Aliko Dangote is planning to list about 10% of his oil refining company on multiple African stock exchanges as part of efforts to raise funding for the next phase of expansion across his industrial empire.
The move will apply to Dangote Petroleum Refinery and Petrochemicals FZE, with the billionaire confirming that the company will pay dividends in dollars to shareholders after the planned initial public offering (IPO).
He disclosed this in a brief interview in Washington on Thursday.
Dangote said the company has already engaged advisers for the listing, including Stanbic IBTC Capital, Vetiva Advisory Services, and FirstCap, as preparations advance for what could become one of Africa’s largest energy sector listings.
Dangote said the listing is expected to involve around 10 per cent of the company, although final details are still being worked out.
The share sale is part of a broader $40 billion expansion programme spanning oil refining, fertiliser production, and other industrial investments over the next five years.
Dangote also outlined plans to expand into new resource-based industries across the continent, particularly in mineral-rich markets.
He said the group is targeting sectors where Africa continues to face infrastructure and investment gaps.
The announcement comes as the 650,000-barrels-per-day refinery continues to scale operations and deepen its presence in global fuel markets.
