Dangote to prioritise investors with N50,000 or below in refinery IPO

Dangote Group's President, Aliko Dangote, has announced that investors who apply with less than N50,000 will be prioritized in the Dangote Refinery's initial public offering (IPO). The announcement was made during the final leg of the nationwide IPO roadshow in Port Harcourt, Rivers State. The IPO aims to encourage wider participation from Nigerians in the ownership of the refinery, which Dangote refers to as a major industrial project built on Nigerian soil.

The company has already attracted substantial capital from international and African investors, but the public offering allows Nigerians to participate directly in the refinery's ownership. Dangote emphasized the potential for wealth creation, job generation, and economic growth through wider participation in the stock market. The refinery project is expected to contribute to economic diversification, domestic value addition, energy security, and employment generation beyond petroleum processing.

The roadshow aimed to raise awareness about the IPO and encourage greater investment in the refinery among Nigerians.