Africa’s wealthiest businessman, Aliko Dangote, has disclosed plans to sell a minority stake of between five and ten per cent in Dangote Petroleum Refinery on the Nigerian Exchange (NGX) Limited in 2026.
The billionaire industrialist, whose conglomerate spans cement, sugar, and other key sectors, said the move is aimed at broadening the refinery’s shareholder base and unlocking more capital for future expansions.
Industry analysts believe the listing could attract significant local and foreign investors, given the refinery’s status as the largest in Africa, with a refining capacity of 650,000 barrels per day.
“This strategic divestment aligns with our long-term vision to make Dangote Petroleum Refinery a publicly-owned enterprise while retaining controlling interest,” Dangote stated during a recent business forum.
Market watchers anticipate that the planned share sale will boost liquidity on the NGX and further cement Dangote Group’s influence in Nigeria’s oil and gas sector.
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