Dangote Refinery Shares to Open for Nigerians Soon

Aliko Dangote, Chairman of Dangote Group, announced that shares of Dangote Refinery will be available for purchase by Nigerians within the next four to five months. This announcement was made during a press tour of the refinery on February 21, 2026.

Bayo Ojulari, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC), praised the relationship between NNPC and the refinery's new leadership, expressing optimism for future collaboration. NNPC currently holds a 7.25% equity stake in the refinery on behalf of Nigerians.

Investors will have the option to receive dividends in either naira or US dollars, with the refinery expected to generate substantial foreign currency earnings. The listing is anticipated to value the refinery at $20 billion, enhancing investor confidence and market depth.

The public listing on the Nigerian Exchange Limited (NGX) is projected for December 2025, with discussions ongoing regarding the structure of the initial public offering (IPO) and potential dollar-denominated dividend payments.