Africa’s richest man, Aliko Dangote, says his refinery IPO could attract up to 10 million shareholders. The billionaire made the disclosure in an interview with CNN International correspondent Larry Madowo. His comment came as Nigerians showed growing excitement over the Dangote Petroleum Refinery IPO.
Madowo told Dangote that Nigerians were closely following the company online. Some even inspect Dangote trucks and visit his cement factories. They also call themselves investors and demand regular updates. Dangote said the offer has attracted interest beyond Nigeria.
“I think this IPO is not only for Nigerians,” he said.
“We’ve got a lot of interest from all over Africa.”
Dangote also described the IPO as a way to widen ownership across Africa. He said the company wants to spread ownership among millions of people. According to him, the annual general meeting could become so large that it needs a stadium.
“We’re looking at having 10 million shareholders,” Dangote said.
When Madowo asked him to confirm, he replied,
“I’m 100 per cent sure we get 10 million shareholders.”
Meanwhile, the Dangote Refinery IPO opened on September 14, 2026. The offer includes 4.1 billion new ordinary shares at N525 each. Investors can start with a minimum of 10 shares, worth N5,250. The offer closes on October 13, 2026.
If fully subscribed, it could raise N2.15 trillion, or about $1.6 billion. The figure could reach roughly $2.1 billion if the company uses its greenshoe option. Dangote said the company has already raised its target amount. He added that the next goal is to “spread the wealth across the continent.”
