Aliko Dangote, President and Chief Executive Officer of the Dangote Group, has announced that Nigerians will be able to purchase shares directly in the Dangote Refinery within the next four to five months.
Dangote made the disclosure while addressing journalists during a visit to the refinery by Nigerian National Petroleum Company Limited (NNPC) led by its Group Chief Executive Officer, Bayo Ojulari, and members of the company’s executive management team.
He revealed that NNPC currently holds a 7.25 percent stake in the refinery on behalf of Nigerians. “They are holding that on behalf of Nigerians,” Dangote said, adding that individual Nigerians would soon have the opportunity to buy shares themselves.
According to him, shareholders will also have the option of receiving dividends in either naira or dollars, given that the refinery earns revenue in foreign currency.
Describing Ojulari’s visit as significant, Dangote said it marked one of the refinery’s best days, noting that NNPC is not merely a guest but a key shareholder that invested at a time when the project’s success was not guaranteed.
He expressed optimism about deepening collaboration with NNPC, saying discussions are ongoing regarding possible partnerships in the upstream oil sector, particularly in oil blocks 71 and 72. He added that cooperation could extend both ways, with NNPC partnering in refinery operations as well.
Dangote described the refinery as more than a fuel-processing facility, calling it an emerging industrial hub. He disclosed that the plant is expanding into the production of linear alkyl benzene, a key raw material for detergent manufacturing.
With a projected annual capacity of 400,000 tonnes, Dangote said the facility would be able to meet detergent raw material demand across Africa. He noted that current production capacity on the continent is limited to about 100,000 tonnes in Algeria and 50,000 tonnes in Egypt.
The company had earlier announced plans to commence the production of surfactants for detergent manufacturing in Nigeria.