Dangote refutes monopoly claims as Dangote Refinery IPO opens at N525/share
Aliko Dangote dismissed monopoly accusations in an Al Jazeera interview, saying the Dangote Petroleum Refinery IPO opened on September 14, 2026, offering 4.1 billion ordinary shares at N525 per share to raise N2.15 trillion. He stressed that the investment opportunity was open to everyone, including foreign investors, and that the government had issued 34 refinery licences under the Petroleum Industry Act, not exclusive rights to his company.\n\nThe IPO aims to broaden ownership among civil servants, teachers, artisans, students, institutional investors, pension funds and the diaspora, while Dangote's refinery—projected to process 650,000 barrels per day—adds to Nigeria's refining capacity, which already exceeds 1.125 million barrels per day and is set to rise further with new licences contributing over 850,000 barrels per day. Premium Motor Spirit supply rose from 1.3 billion litres in 2024 to 3.8 billion litres in 2025, signalling improving fuel availability.\n\nBeyond refining, Dangote noted his fertiliser business targets a 2028 IPO to become the world's largest, and plans to double crude‑processing capacity to 1.4 million barrels per day by Q1 2029. With the shares priced at N525, will you consider buying into the Dangote Refinery IPO, or wait for the fertiliser listing and other sector opportunities?