The President of Dangote Group, Aliko Dangote, has seen his net worth rise to $51 billion following the official kickoff of the Dangote Refinery Initial Public Offering (IPO) on the Nigerian Exchange Limited (NGX).
According to Forbes data, the net worth revaluation places Africa’s richest man as the 36th-richest person globally.
The refinery’s public offer raised ₦1.5 trillion within its first six hours of opening on the NGX. The company aims to raise a total of ₦2.15 trillion to support its ongoing expansion plans.
The offer comprises 4.1 billion ordinary shares targeting 10 million Nigerian investors, with each share carrying a nominal value of $0.000013 and an offer price of ₦525.
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