Aliko Dangote says the Dangote Refinery’s Initial Public Offering (IPO) is aimed at giving Nigerians and other investors an opportunity to own part of the business, rather than raising funds for the company.
Dangote made the remarks on Monday at the Nigerian Exchange Limited (NGX) during the launch of the offer.
He said the refinery had already secured the funding needed for its projects, adding that the public offer was designed to spread ownership and allow more people to benefit from the company’s growth.
“The primary purpose of making this offer is to democratise wealth creation. If it is the question of raising money, I think we have raised more than what we need as a group to execute all our projects,” he said.
The IPO opened on Monday with 4.1 billion new ordinary shares offered at N525 each, with a minimum subscription of 10 shares for N5,250.
The offer is expected to close on October 13, 2026, subject to the terms of the prospectus.
Dangote said the decision to invite the public followed strong demand from investors during an earlier private placement.
“Coming back now to do an IPO is about making sure that we invite the public so that they can get part of the investment,” he said.
He described the offer as an opportunity for Nigerians and Africans to participate in one of the continent’s major industrial projects.
“Today is not about listing a company but about listing a company for Nigerians, for Africa and for the black race,” Dangote said.
The public offer is expected to raise about N2.15 trillion.
