Chairman of the Dangote Group, Aliko Dangote, has announced that Nigerians will soon have the opportunity to purchase shares in the $20 billion Dangote Refinery, with the offering expected within the next four to five months, between June and July 2026.
Dangote revealed this during a visit by the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL) and other senior officials to the refinery complex in Lekki, Lagos.
Addressing the NNPCL delegation, Dangote confirmed that the refinery will be listed on the Nigerian Stock Exchange (NGX), enabling individual Nigerians to participate in the ownership of the multi-billion-dollar 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 stated.
Dangote further highlighted that Nigerian shareholders would have the flexibility to receive dividends in either naira or US dollars, reflecting the refinery’s earnings in foreign exchange.
Currently, NNPCL holds a 7.25 percent equity stake in the refinery on behalf of the Nigerian government.
The announcement follows an executive order by President Bola Ahmed Tinubu directing the direct remittance of oil revenues into the Federal Government account, a move that has reportedly impacted income streams previously retained by NNPCL.
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