In a landmark move for Nigeria's industrial and investment landscape, Aliko Dangote, President of the Dangote Group, has announced plans to allow Nigerians to own shares in his $20 billion refinery project.
The development is expected to create significant opportunities for small and medium-scale investors, potentially boosting inclusive participation in one of Africa's largest industrial ventures.
Dangote made the announcement during a public statement, emphasizing his commitment to democratizing wealth and expanding local ownership in key national assets.
The Dangote Refinery, located in Lagos' Lekki Free Zone, is currently Africa's largest and one of the world's biggest single-train refineries. When fully operational, it will produce 650,000 barrels of oil per day, substantially reducing Nigeria's dependence on imported fuel and creating thousands of jobs across the value chain.
Industry experts say this move could open up new pathways for capital market inclusion, with SMEs, cooperative societies, and everyday Nigerians gaining access to dividend-yielding shares in a critical energy infrastructure.
More details on the public offering are expected to be released in the coming months.
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