In a move that promises to reshape Nigeria’s investment landscape, Aliko Dangote has officially announced that everyday Nigerians will be able to buy shares in his massive $20 billion refinery within the next four to five months, targeting a window between June and July 2026.
The Chairman of the Dangote Group shared this exciting update during a high-profile visit from the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL) and other top government officials at the sprawling refinery complex in Lekki, Lagos.
While addressing the NNPCL delegation, Dangote confirmed that the refinery is moving toward an official listing on the Nigerian Stock Exchange (NGX), a step that will finally allow private citizens to claim a stake in the ownership of the world-class facility.
“But individually, Nigerians too will have an opportunity in the next maximum four or five months— they will actually be able to buy their shares,” he said, emphasizing his commitment to inclusive ownership.
In a rare move for a Nigerian-listed company, Dangote also highlighted that shareholders will have the freedom to choose how they receive their returns. Because the refinery is a major foreign exchange earner, investors can opt to collect their dividends in either Naira or US Dollars.
“People will have a choice either to get their dividends in naira or to get their dividends in dollars because we earn in dollars,” he added, addressing a key concern for local investors seeking to protect their wealth.
Currently, the NNPCL holds a 7.25 percent equity stake in the refinery on behalf of the Nigerian government, acting as a foundational partner in the project’s journey toward full production.
This announcement solidifies earlier reports that the Dangote Group was fine-tuning its plans to go public, a move that is expected to significantly boost the market capitalization of the Nigerian stock market.
The timing of this visit is particularly notable, following closely on the heels of a new executive order from President Bola Ahmed Tinubu. The order mandates the direct remittance of oil revenues into the Federal Government’s account—a policy shift that has significantly altered the financial landscape for the NNPCL.