President of the Dangote Group, Alhaji Aliko Dangote, has announced plans to list his $20 billion Lekki-based refinery, allowing Nigerians to become shareholders in what is Africa’s largest refinery project. Speaking at the Global Commodity Insights Conference on West African Refined Fuel Markets in Abuja, hosted by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) in collaboration with S&P Global Insights, Dangote said the listing would provide a chance for both citizens and institutions to invest in the refinery and participate in its long-term growth.

“Very soon, the refinery will be listed to give all Nigerians the opportunity to become shareholders,” he declared, adding that the company is open to partnerships with African governments, private investors, and regional institutions. Dangote reiterated his vision of Africa refining all the petroleum products it consumes within the continent, rather than depending on imports. He also highlighted the company’s daily production of 2,500 tonnes of liquefied petroleum gas (LPG), aimed at boosting clean cooking energy access for households across Nigeria.

Addressing concerns of market dominance, Dangote dismissed allegations of monopolistic intentions. “We have chosen to bet on Nigeria and will continue to do so,” he said, criticising wealthy Nigerians who invest abroad while contributing little to the local economy. He warned against turning Africa into a dumping ground for substandard products, as seen in the decline of industries like textiles. Encouraging competition, Dangote urged serious investors to build their own refineries, stating that it is the responsibility of the NMDPRA and the government to support such initiatives.