Chairman of the Dangote Group, Aliko Dangote, has announced that Nigerians will have the opportunity to purchase shares in the $20 billion Dangote Refinery within the next four to five months, which is between June and July 2026...READ FULL; FROM THE SOURCE.
Dangote made this known when the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL) and top officials paid a visit to the refinery complex in Lekki, Lagos.
Addressing NNPCL delegates, Dangote reiterated that the refinery would soon be listed on the Nigerian Stock Market, allowing individual Nigerians to participate in the ownership of the multi-billion-dollar facility.
“But individually, Nigerians too will have an opportunity in the next maximum four or five months— they will actually be able to buy their shares,” he said.
Dangote also reiterated that Nigerian shareholders would have the flexibility to receive dividends either in naira or in US dollars, noting that the refinery generates foreign exchange earnings.
“People will have a choice either to get their dividends in naira or to get their dividends in dollars because we earn in dollars,” he added.
DAILY POST reports that NNPCL holds a 7.25 percent equity stake in the Dangote refinery on behalf of the Nigerian government.
Recall that Dangote Refinery had earlier announced plans are on the way to be listed in NGX.
The visit comes on the heels of an executive order by President Bola Ahmed Tinubu directing the direct remittance of oil revenues into the Federal Government account, a move that reportedly affected several income streams previously retained by NNPCL.
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