Aliko Dangote hosted the leadership of the Nigerian National Petroleum Company (NNPC) Limited at the Dangote Refinery in Lekki, Lagos.

The visit, led by the NNPC Group CEO, Bayo Ojulari, signaled a major shift toward a “strategic alliance” between the two giants. Here are the key takeaways from that announcement:

1. Shares for Every Nigerian​Aliko Dangote officially announced that the refinery will be listed on the Nigerian Exchange (NGX) very soon

Timeline: Nigerians will be able to purchase shares within the next 4 to 5 months (roughly June or July 2026).

The Goal: To “democratize ownership” and ensure retail investors—not just big institutions—benefit from the project.

Dividends in Dollars: Because the refinery earns in foreign currency, Dangote stated that shareholders would have the choice to receive dividends in either Naira or US Dollars.

​2. The NNPC Partnership​The meeting served to bridge previous gaps and solidify a long-term operational relationship.

Current Stake: Dangote clarified that the NNPC currently holds a 7.25% equity stake in the refinery on behalf of the Nigerian people.

Alliance: The two parties pledged to work together to ensure national energy security and potentially partner on upstream (crude oil production) projects

​3. Beyond Refining: An “Industrial Hub”​Dangote emphasized that the facility is more than just a petrol plant. ​Petrochemicals: Within the next 30 months, the complex aims to produce 400,000 metric tonnes of Linear Alkyl Benzene (LAB) annually—enough to supply the entire African detergent market.

​Expansion: Plans are underway to eventually expand the refinery’s processing capacity to 1.4 million barrels per day, which would make it the largest single-train facility globally

This IPO is expected to be one of the largest in the history of the Nigerian capital market, significantly boosting its total market capitalization