Aliko Dangote Launches Refinery IPO to Empower African Investors

Aliko Dangote, President and CEO of Dangote Industries Limited, is conducting an Initial Public Offering (IPO) for the Dangote Petroleum Refinery and Petrochemicals to expand ownership of the 700,000-barrel-per-day facility. The offering, which opened September 14 and closes October 13, 2026, provides 4.1 billion shares at N525 per share. If fully subscribed, the IPO could raise approximately N2.15 trillion from Nigerian and eligible African retail and institutional investors.

During the 81st United Nations General Assembly in New York, Dangote announced a specific initiative to help approximately two million vulnerable women in Nigeria, including widows and victims of conflict, acquire shares. The Aliko Dangote Foundation will partner with state governments to facilitate this participation and will donate additional shares to those who invest to help them build long-term savings.

To increase visibility for the offering, Dangote appeared in Times Square with musician Davido beneath a Nasdaq billboard featuring the slogan “Made in Nigeria. Built for the World.” Dangote stated that the listing is a method to spread prosperity across the continent and indicated that he intends to list other businesses, including fertilizer operations, in the future.