SNOW TV NEWS DESK
The highly anticipated Initial Public Offering (IPO) of Dangote Refinery has attracted participation from investors across 200 countries, highlighting the international interest in one of Africa’s biggest industrial projects.
President of Dangote Refinery, Aliko Dangote, disclosed this while speaking during an interview at the Women in Management, Business, and Public Service (WIMBIZ) Annual Conference.
According to Dangote, 54 of the 200 participating countries were African nations, with every country on the continent reportedly represented in the share offering.
He described the level of participation as significant, noting that the refinery deliberately structured the public offer to give ordinary Nigerians and investors across the continent an opportunity to own a stake in the business.
“Two hundred countries participated in the IPO, out of which 54 African countries participated. In fact, all African countries participated,” Dangote said.
The billionaire businessman explained that the decision to fix the offer price at N525 per share was part of efforts to make the investment accessible to a wider section of the public rather than limiting participation to wealthy individuals and major institutional investors.
The IPO, which was popularly described as the People’s IPO, officially closed on October 27, 2026.
The offer was designed to raise approximately N2.15 trillion through the sale of 4.1 billion ordinary shares at N525 each.
The reported participation from 200 countries represents a major milestone for the refinery, reflecting interest in the company’s potential and its growing importance to Nigeria’s energy and industrial sectors.
Beyond raising capital, the public offering also provides an opportunity for investors to participate in the ownership of a refinery expected to play a significant role in reducing Nigeria’s dependence on imported petroleum products.
For Dangote, opening the investment to a broader audience is also an opportunity to deepen public participation in large-scale African businesses and encourage local ownership of major industrial assets.
However, the international interest generated by the IPO will ultimately be measured by the refinery’s ability to deliver sustainable returns, maintain operational efficiency, and strengthen its position in the global energy market.
“Sir Bartholomew White Ebe is a Lagos-based media personality, Music Artist, Producer, and a Relationship Coach and independent journalist. With over seven years of experience tracking political developments and cultural shifts in Nigeria, he specializes in local current affairs, grassroots politics, and community-driven reporting across Lagos State. As the founder and chief editor of Snow Multimedia Connect {SNOW TV}, he leads the editorial team to deliver verified, high-impact stories to digital audiences.”
Email: snowmediaconnect@gmail.com
