President of the Dangote Group, Alhaji Aliko Dangote, has disclosed that Nigerians will be able to purchase shares in the Dangote Petroleum Refinery within the next four to five months, with dividends payable in either naira or US dollars.
Dangote made the announcement on Saturday during a high-level visit by the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC), Engr. Bayo Bashir Ojulari, accompanied by members of the NNPC board and executive management team.
The visit marked the first official tour of the $19 billion facility by senior leadership of the state-owned energy company, signalling a renewed phase of strategic collaboration between the two organisations.
Describing the visit as symbolic, Dangote noted that the NNPC is not just a partner but a shareholder in the refinery.
“Today is really our best day ever. He’s not just a guest, he’s a shareholder,” Dangote said, referring to Ojulari. “NNPC invested in us even when we were not sure whether the refinery would be successful. That shows the level of confidence.”
The NNPC currently holds a 7.25 per cent equity stake in the 650,000 barrels-per-day refinery on behalf of Nigerians. Dangote explained that plans are underway to open the ownership structure to individual Nigerians, enabling citizens to participate directly in the landmark energy infrastructure project.
He added that the planned share offer would deepen public participation in Nigeria’s downstream petroleum sector and enhance transparency and investor confidence in the country’s energy market.
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