Nigerians will soon have the opportunity to own equity in the multi-billion-dollar Dangote Group’s petroleum refinery, with public share sales expected within four to five months, according to its president, Aliko Dangote.
Dangote disclosed the plan during a briefing at the Lagos refinery complex following a working visit by the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC) and members of its board. He said the move to open the $20 billion facility to broader public ownership would allow individual Nigerians to participate in the refinery’s long-term growth.
“In the next maximum four or five months, they will actually be able to buy their shares,” Dangote stated, noting that investors would have flexibility in receiving dividends in either local or foreign currency, given the refinery’s dollar-based revenue model.
He clarified that NNPC currently holds a 7.25 per cent stake in the refinery on behalf of the Nigerian people and that the forthcoming public offering would complement that arrangement rather than alter it. The strategic partnership, he explained, remains central to the refinery’s operational and commercial framework.
Beyond equity participation, Dangote outlined broader ambitions for the facility, describing it as an industrial hub with implications beyond fuel production. He revealed that within the next 30 months, the complex would begin manufacturing linear alkylbenzene — a key ingredient in detergent production — at a scale sufficient to supply the entire African market.
NNPC’s leadership welcomed the developments, framing the Dangote–NNPC alliance as a catalyst for energy security and industrial transformation. The Group CEO described the refinery as evidence of Nigeria’s capacity to execute large-scale industrial projects using global best practices and advanced technology.
According to him, the refinery represents national pride and an important milestone in the country’s quest for downstream self-sufficiency. He argued that its success demonstrates Nigeria’s ability to overcome historical industrial constraints and compete in the global energy value chain.
The planned share offering is expected to broaden public participation in one of Africa’s largest refining projects and deepen domestic investment in Nigeria’s energy infrastructure. Analysts note that public ownership could enhance transparency and stakeholder engagement while providing Nigerians with direct exposure to the downstream petroleum sector’s growth potential.
With operational capacity and industrial diversification plans underway, the refinery’s evolution from a private mega-project to a partially publicly owned enterprise marks a significant step in Nigeria’s economic and industrial narrative.