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Dangote Refinery to open share sale to Nigerians within five months
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NNPC holds 7.25% equity stake on behalf of Nigerians
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Investors may receive dividends in naira or dollars
President of the Dangote Group, Aliko Dangote, has announced plans to open up the Dangote Refinery to individual Nigerian investors through a public share offering.
Dangote made the disclosure on Saturday during a guided tour of the refinery by the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC), Bayo Ojulari, alongside members of the company’s board and senior management.
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He said arrangements were being finalised to enable Nigerians to purchase shares in the multibillion-dollar project within the next four to five months.
“Individually, Nigerians will have the opportunity. In the next maximum four or five months, they will be able to buy shares,” Dangote stated.
According to him, NNPC currently holds a 7.25 per cent minority stake in the refinery on behalf of Nigerians.
READ ALSO: Dangote Signs $400m Equipment Deal To Expand Refinery To 1.4m bpd
He added that prospective investors would have the option of receiving dividends either in naira or in dollars, given the refinery’s foreign exchange earnings.
Dangote also signalled plans to deepen collaboration with NNPC across the oil and gas value chain, including possible upstream partnerships.
He described the refinery as an industrial hub with expansion prospects beyond fuel production.
He revealed that additional projects within the complex, such as the production of linear alkylbenzene for detergent manufacturing, are expected to position the facility as a key supplier across Africa within the next 30 months.
Dangote expressed optimism that the partnership between the refinery and NNPC would enhance operations and contribute to national economic growth.
