The President of Dangote Industries Limited, Aliko Dangote, has said drivers, cooks, traders, workers and other Nigerians will have the opportunity to own shares in the Dangote Petroleum Refinery and Petrochemicals through its proposed initial public offering.

Dangote made the disclosure on Monday in Lagos while signing the registration documents for the refinery’s proposed IPO, which he described as an “IPO for the people.”

According to him, the offering is designed not only to raise funds for the expansion of the refinery but also to democratise ownership of the major industrial facility by giving ordinary Nigerians and other Africans an opportunity to become shareholders.

The IPO comprises 4.1 billion ordinary shares priced at N525 each and is expected to raise more than N2tn. The minimum subscription is 10 shares, meaning investors can participate with N5,250.

Dangote said there would be no segregation in terms of who could own the shares, stressing that people from different backgrounds should have the opportunity to take a stake in the refinery.

The proposed public offer is valued at about $1.6bn, while the refinery itself is valued at approximately $49bn.

The IPO is scheduled to open on September 14 and close on October 13, 2026.

Dangote also highlighted the potential benefits to shareholders, including the possibility of receiving dividends denominated in US dollars.

He said the offering represented more than a fundraising exercise, describing it as part of efforts to give Nigerians and Africans a sense of ownership in one of the continent’s major industrial projects.

The businessman also reflected on the challenges encountered in developing the refinery, including difficulties securing land and resistance from some members of the host community before the project eventually moved to the Lekki Free Zone.

Dangote acknowledged the contributions of former Lagos governors Babatunde Fashola and Akinwunmi Ambode, as well as the incumbent governor, Babajide Sanwo-Olu, to the development of the project.

He said the refinery was central to Dangote Group’s broader ambition of accelerating industrialisation across Africa, stressing that energy security remained critical to achieving sustainable economic development.

He urged Nigerians and other Africans to take the lead in developing their economies, saying greater local ownership of major industrial projects would create opportunities and prosperity.

The proposed IPO is expected to provide members of the public with an opportunity to invest directly in the refinery, although the shares had not commenced trading on the Nigerian Exchange or investment platforms as of Monday afternoon.