Dangote Refinery Denies IPO Reports, Warns Public

Dangote Petroleum Refinery (DPR) has issued a statement refuting reports about a potential initial public offering (IPO) and cautioned the public against relying on speculative information circulating on various media platforms. The company clarified that it has not announced any plans for an IPO and emphasized that any decisions regarding a possible listing will be communicated through official channels in compliance with regulatory requirements.

DPR highlighted that several online platforms have published unauthorized and unverifiable information regarding a potential offer, which did not originate from the company. Aliko Dangote, the president of the Dangote Group, had previously indicated plans to list a portion of the refinery to attract investors and deepen market participation, with intentions to sell a minor stake while retaining 65-70% ownership.

Umaru Kwairanga, chairman of the Nigerian Exchange Group, noted that the refinery's latest clarification suggests no official IPO process has been announced, urging stakeholders to await formal disclosures.