Nigerians to buy shares in my refinery latest July β Dangote
Aliko Dangote announced plans for Nigerians to invest in the Dangote Refinery by July, expanding public ownership of the project.
Aliko Dangote, President of the Dangote Group, revealed that plans are in place for Nigerians to purchase shares in the Dangote Refinery within the next four to five months. This initiative aims to broaden public ownership of the refinery, allowing individuals to directly invest in a significant domestic industrial project. Dangote expressed his commitment to making the investment opportunity accessible to ordinary Nigerians, furthering his vision of inclusive economic participation.
During a recent tour of the refinery by Bayo Ojulari, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC), Dangote highlighted that the NNPC currently holds a 7.25% minority stake in the refinery on behalf of Nigerians. This arrangement underscores the government's interest in the refinery and its commitment to offering Nigerians a stake in the oil industry, which is vital to the nation's economy. The upcoming share offering is expected to engage more citizens in the economic benefits generated by the refinery's operations.
The Dangote Refinery, once operational, is poised to have a transformative impact on Nigeriaβs oil sector, potentially reducing the country's reliance on imported petroleum products. By allowing citizens to invest in this critical infrastructure, the Dangote Group aims not only to enhance the economic landscape but also to foster a sense of ownership among Nigerians. This initiative could serve as a model for future public-private partnerships in Nigeria, further integrating citizens into the country's economic development processes.