Aliko Dangote Opens Doors for Nigerians to Own Part of His Mega Refinery

Africa’s richest man, Aliko Dangote, has announced plans to list his $20 billion Dangote Refinery on the Nigerian Exchange Limited (NGX), a move that will allow everyday Nigerians to become part-owners of the massive facility.

Speaking at a recent energy conference in Abuja hosted by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and S&P Global Insights, Dangote said the listing would give Nigerians the opportunity to invest directly in the refinery and benefit from its success.

“Very soon, the refinery will be listed to give all Nigerians the opportunity to become shareholders,” Dangote revealed. “We’re also open to partnerships with African governments, private investors, and regional institutions.”

Dangote emphasized that Africa has no reason to depend on foreign refineries for its fuel needs, stating:

“Africa should refine all the petroleum products it consumes right here on the soil of Africa.”

 

The Dangote Refinery, located in the Lekki Free Trade Zone in Lagos, officially began rolling out fuel in September 2024, marking a historic milestone for Nigeria’s oil and gas sector. In the months since, the refinery has made headlines for cutting fuel prices twice—much to the relief of businesses and consumers.

According to company sources, direct distribution of petrol and diesel to Nigerian consumers will begin on August 15, 2025. This is expected to further ease fuel supply issues and lower pump prices across the country.

As anticipation builds over the upcoming NGX listing, many Nigerians are seeing this as a rare chance to invest in one of the most ambitious industrial projects on the continent—one that could reshape Nigeria’s energy landscape and reduce reliance on imported fuel for good.