Africa’s richest man and Dangote Group founder, Aliko Dangote, has confirmed that Nigerians who recently bought shares in Dangote Petroleum Refinery have been jokingly calling for a “board meeting.”
Dangote made the comment during an interview at the Qatar Economic Forum on Sunday while speaking about his businesses and plans to bring more investors into the group.
Explaining the company’s ownership structure, he said, “No, we have actually everything we do by ourselves. We don’t have partners. But that’s why we are now looking for all these massive number of people to now become our partners.”
On the social media trend involving new refinery shareholders, Dangote said, “You must have seen that they’ve been calling me now for a board meeting.”
The online jokes followed the ongoing initial public offering of the Dangote Petroleum Refinery, described as a “people’s IPO.” Some retail investors have shared posts presenting themselves as co-owners, executives and business partners.
Meanwhile, Dangote confirmed plans to list the group’s fertiliser business on the stock market.
He said, “Oh, yeah, yeah. I mean, we will IPO it. It’s going to be the biggest fertilizer company on earth.”
Asked when the listing would happen, he replied, “Yes, it will be 2028.”
Dangote Fertiliser operates a $2.5bn plant in Ibeju-Lekki, Lagos, with capacity to produce about three million tonnes of urea yearly.
