All Nigerians will have access to the Refinery’s IPO and be part-owners-Dangote
who will return home with renewed commitment to building industries that can transform their economies. It is about building Africa together.”
Dangote also highlighted the Group’s sustained leadership across its core businesses over the past five years, including cement operations in 11 African countries, alongside significant investments in refining, petrochemicals, and fertiliser production. He noted that cement capacity has expanded to 55 million tonnes per annum, supported by the development of clinker export terminals to strengthen regional trade.
“We have built businesses that address Africa’s critical needs and create long-term value for the continent,” Dangote said. “Africa must stop exporting raw materials and importing finished goods. That amounts to exporting jobs and importing poverty.”
He added that investor appetite for the refinery’s listing on the Nigerian Exchange has remained exceptionally strong, with demand for the private placement already exceeding $2 billion.
“There is significant interest in both the IPO and the private placement,” he said. “While we are not able to meet all requests, the strong demand reflects investors’ confidence in the refinery and in Africa’s industrial future.”
Cover Pics: L-R, Vice President Oil & Gas, Dangote Industries Limited, Devakumar Edwin; President, Dangote Industries Limited, Aliko Dangote; Group Chairman, FirstHoldCo, Femi Otedola; during the visit of First Bank’s management’ to Dangote Petroleum Refinery Petrochemicals and Fertiliser Plant Lekki Lagos on Wednesday 20, May 2026
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