Dangote to List Refinery on Nigeria's Stock Exchange Market for Nigerians to Own Shares
- Dangote Refinery will soon be listed on the Nigerian Stock Exchange, allowing citizens to become shareholders in the facility
- Aliko Dangote discouraged using monopoly concerns to undermine local investment and industrial growth in Nigeria
- He emphasised that the refinery now meets all of Nigeria’s diesel and jet fuel needs, with additional capacity for export
Legit.ng journalist Victor Enengedi has over a decade's experience covering Energy, MSMEs, Technology, Banking and the Economy.
The Founder of Dangote Group, Alhaji Aliko Dangote, has revealed plans to list the Dangote Refinery on the Nigerian Stock Exchange, allowing citizens to own shares in what he described as a “national asset.”
Dangote made this known at the 2025 Inaugural Annual Downstream Petroleum Week, organised by the House of Representatives Committee on Petroleum Resources (Downstream).
Source: UGC
Represented by the Group Chief Strategy Officer of Dangote Industries Limited, Mr Aliyu Suleman, he urged policymakers to prioritise frameworks that promote innovation, competition, and productivity within the petroleum sector.
He said:
“Nigeria is now a net exporter of refined petroleum products, polypropylene and urea. This is a historic turnaround. And we’re not getting started. Soon, the Dangote Refinery would be listed, giving Nigerians the opportunity to become shareholders in this national asset."
Dangote cautioned against discouraging local industrialisation under the guise of monopoly concerns, emphasising that no investor is restricted from establishing similar ventures.
He said:
“Too many people with the means to build industries chose instead to invest abroad. We decided from afar while adding little value to our economy. We have chosen differently. We have chosen to get to Nigeria. We have chosen to build here, to employ here, to produce here. So let us not use the cry of monopoly to start from growth. No one is prevented from investing."
He further highlighted Nigeria’s competitive advantage in refining due to its proximity to crude oil and gas resources. He called for stronger legal and policy support to enhance the sector’s growth and deliver the economic transformation Nigeria deserves.
Dangote noted that the refinery currently meets the country’s full demand for diesel and jet fuel, with additional export capacity. He added that the facility can supply up to 90% of Nigeria’s petrol (PMS) needs, based on official daily consumption estimates.
Discussing Africa’s refining landscape, Dangote lamented that the continent refines only about 40% of its petroleum needs, compared to over 95% in Europe and Asia.
Recounting the scale of the project, Dangote said the refinery’s construction involved over 2,700 hectares of land, 65 million cubic meters of sand for stabilisation, 250,000 foundation bars, and millions of meters of piping and wiring.
Source: UGC
At its peak, the project engaged more than 60,000 workers, 50,000 of whom were Nigerians, working round the clock across multiple disciplines.
He emphasised that beyond ensuring energy security, domestic refining brings enormous economic benefits, including job creation, industrial linkages, foreign exchange savings, and skill development.
Dangote Crashed Petrol Prices by N259
In related news, , reported earlier that Dangote Refinery has reduced the price of petrol by N259 per litre within the past year, according to Aliko Dangote.
Speaking to journalists on Monday, September 15, during the refinery’s first anniversary celebration, Dangote noted that the facility has helped end Nigeria’s long-standing fuel supply challenges.
He explained that the pump price, which was around N1,100 per litre a year ago, has now fallen to N841 per litre in key locations, including the South West, Abuja, Delta, Rivers, Edo, and Kwara states.
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Source: Legit.ng
