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Drivers, cooks, will have stakes in refinery, Dangote says at IPO signing
President and chief executive of Dangote Industries Limited, Aliko Dangote, has said that the Initial Public Offering (IPO) of the Dangote Refinery will provide ordinary Nigerians the opportunity to buy shares in the facility.
Dangote made the remarks on Monday at the IPO signing ceremony in Lagos.
“What we are trying to achieve is to make sure our drivers, cooks, servants, and everybody have the opportunity of having stakes in the refinery”, he said.
With the official application list opening on September 14 and closing October 9 2026, the refinery would be offering 4.1 billion ordinary shares of $0.000013 each for subscription at ₦525.00 per share.
Investors can participate with a minimum subscription of 100 ordinary shares (valued at ₦52,500), and in multiples of 50 shares thereafter.
This would be the 20 billion dollar refinery’s first public offer since its inauguration in 2023, after nearly 10 years of construction.
The refinery which is located in the Lekki free zone in Lagos, has a refining capacity of 650,000 barrels per day, making it Africa’s largest single-train refinery.
Among the financial experts who graced the IPO signing ceremony were chairman of Zenith Bank Jim Ovia and Chairman of Heirs Holdings Tony Elumelu.
