Dangote speaks on plans to list all group businesses

Aliko Dangote, the President of Dangote Group, recently discussed the company's plans to list all its businesses on the stock market during an interview with Al Jazeera. The intention behind the initial public offering (IPO) of the Dangote Petroleum Refinery, Dangote explained, is not to raise funds but to create wealth by allowing ordinary Nigerians to own a stake in the business.

This model aims to give people like Dangote's driver and cook the opportunity to participate in the ownership of the business, similar to how companies in developed economies invite members of the public to join their ownership after becoming established. Dangote's vision extends to all businesses operated by the Dangote Group, with the company aiming to become the largest urea producer in the world by 2028.

Every single company within the group is planned to be listed on the stock market, strengthening corporate governance and enabling more Africans to participate in the ownership of these investments. Shareholders of the refinery will receive dividends in dollars, as the group earns its income in the currency. Dangote believes this development will elevate the Nigerian capital market to a "totally different level."