President of the Dangote Group, Aliko Dangote, has said the Dangote Petroleum Refinery and Petrochemicals FZE will become the largest company in Africa by the end of December 2026.
Dangote made the declaration on Monday while speaking at the Nigerian Exchange (NGX) in Lagos during the launch of the refinery’s Initial Public Offering (IPO).
He said the IPO was designed to give ordinary Nigerians, Africans and investors worldwide the opportunity to own a stake in the refinery.
Dangote stressed that the offer is aimed at democratising wealth creation rather than raising funds for the company.
He assured investors that the refinery would continue to create long-term value and deliver sustainable returns.
According to him, parents with children studying abroad can benefit from dollar-denominated dividends to cushion the effects of naira devaluation.
“The IPO is about making sure that we invite the public so that they can get part of the investment,” Dangote said.
He added, “By the end of this year, this is going to be the largest company in Africa, not in Nigeria. Don’t let the train leave you at the station.”
The IPO consists of 4.1 billion ordinary shares offered at N525 per share, with subscriptions open from September 14 to October 13, 2026.
Dangote said the company has already secured the funding needed for its projects and described the public offer as an opportunity for investors to share in the refinery’s future prosperity.
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