Dangote speaks on plans to list all group businesses

Aliko Dangote, the President of the Dangote Group, has explained the purpose of the ongoing IPO of the Dangote Petroleum Refinery. Dangote emphasized that the primary goal of the IPO was not to raise capital, but to allow ordinary Nigerians to become stakeholders in the business, thereby creating wealth. The Dangote Group aims to list all of its businesses on the stock market by 2028, according to Dangote.

He also disclosed that shareholders of the refinery will receive dividends in dollars, as the group's income is earned in that currency. The IPO would give people across Africa an opportunity to participate in the ownership of the businesses, making it a milestone for the continent, not just Nigeria. The refinery, described as the most advanced and lowest-cost on earth, is also expanding its petrochemical operations and plans to produce 400,000 tonnes of linear alkyl benzene.