President and Chief Executive of the Dangote Group, Aliko Dangote, has announced that Nigerians will be able to purchase shares directly in the Dangote Refinery within the next four to five months.
Dangote disclosed this while addressing journalists during a tour of the refinery by Bayo Ojulari, Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd), and members of the company’s executive management.
He revealed that NNPC currently holds a 7.25 per cent stake in the refinery on behalf of Nigerians, noting that the arrangement underscores public participation in the project.
“And in the next four to five months, there will be an opportunity for Nigerians individually to buy shares,” Dangote said, adding that shareholders would have the option of receiving dividends in naira or dollars, given that the refinery earns foreign exchange.
Describing Ojulari’s visit as significant, Dangote said it marked “our best day ever” at the facility, emphasising that NNPC is not merely a guest but a key shareholder.
He recalled that NNPC invested in the refinery at a time when its success was not guaranteed, describing the move as a strong vote of confidence. He added that the relationship with the new NNPC management presents opportunities for deeper collaboration.
On potential upstream partnerships, Dangote said discussions were ongoing regarding oil blocks 71 and 72, with prospects for joint ventures between both organisations. He noted that the refinery is more than a fuel-processing plant, describing it as an industrial hub.
The billionaire businessman highlighted plans to produce linear alkyl benzene, a key raw material for detergent manufacturing, with a projected capacity of 400,000 tonnes annually — enough to meet demand across Africa. He noted that existing production capacity on the continent is limited to about 100,000 tonnes in Algeria and 50,000 tonnes in Egypt.
According to him, the refinery aims to deliver the new production capacity within the next 30 months.
Earlier, on February 6, the Dangote Refinery announced plans to commence the production of surfactants for detergent manufacturing in Nigeria as part of its diversification drive.