Dangote Refinery to Float Shares at Stock Exchange so Nigerians Can Have Stakes in 

The Chairman of the Dangote Group, Alhaji Aliko Dangote, has announced plans to list his $20 billion refinery on the stock market, allowing Nigerians to buy shares.

The refinery, located in Lekki, Lagos State, is expected to be a game-changer for the country’s economy.

Dangote emphasized the importance of Africa refining its own petroleum products, rather than relying on imports. He expressed his vision for the continent to take control of its refining needs, creating jobs and stimulating economic growth.

The billionaire also highlighted the company’s investment in liquefied petroleum gas (LPG), aiming to promote clean cooking in Nigeria. With a daily production capacity of 2,500 tonnes, Dangote said the company is working to increase LPG consumption nationwide.

Dangote addressed concerns about monopolizing the downstream sector, stating that those who criticize local investors often invest their resources abroad.

He emphasized his commitment to betting on Nigeria’s growth and development, warning against dumping substandard products in Africa.

The business mogul encouraged other investors to build refineries, stating that it is the responsibility of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the government to promote such investments.