Aliko Dangote, President of Dangote Industries Limited, has asked Nigerians to stop referring to him as Africa’s richest man, saying he prefers to be recognised for creating wealth and opportunities for others.
Dangote spoke on Monday at the Nigerian Exchange (NGX) in Lagos, where he sounded the gong to officially commence the Initial Public Offering of Dangote Petroleum Refinery and Petrochemicals.
“I don’t want anybody again to call me the richest man in Africa. I want to be called the wealthiest man in Africa so that I can create wealth for others,” he said.
The business mogul described the IPO as an avenue for investors to take part in a major phase of economic development for Nigeria and the wider African continent.
“Today, we are not merely offering shares. We are offering an opportunity to participate in the transformational chapter of not only Nigeria’s economy, of Africa’s economy,” Dangote said.
He called for greater participation in Nigeria’s capital market, stressing the need to expand ownership and enable more people to benefit from wealth creation.
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“Together, let us deepen our capital market. Together, let us create prosperity through ownership. Together, let us build a stronger Nigeria. Together, let us ensure prosperity for Africa,” he said.
Reflecting on his journey in building the Dangote business empire, Dangote also spoke about the personal costs of his career, particularly the years he spent away from his family.
He expressed appreciation to his three daughters, Mariya, Halima and Fatima, for their patience, understanding and support, acknowledging that his demanding business commitments had limited the time he could spend with them.
The public offer, which commenced on Monday, September 14, 2026, comprises 4.1 billion new ordinary shares of Dangote Petroleum Refinery and Petrochemicals priced at N525 each.
Investors can subscribe for a minimum of 10 shares, requiring an investment of N5,250, while the offer is expected to close on October 13, 2026, subject to the conditions outlined in the prospectus.
The launch ceremony at the NGX trading floor also marked the first occasion in the Exchange’s 66-year history that a refinery has been offered on the Nigerian stock market.