Africa's richest man launches continent's biggest share sale
Nigerian billionaire Aliko Dangote has launched Africa's largest share sale by offering a 3% stake in his massive oil refinery to the public. The initial public offering aims to raise up to $2.1 billion to help double the facility's processing capacity. While the move allows ordinary citizens to invest in a major energy asset, experts have warned potential buyers about market risks and the threat of scams.
- ▪The IPO offers roughly 3% of the Dangote refinery shares with a minimum purchase of 10 shares costing about $4.
- ▪The refinery, which began production in 2024, has a capacity of 650,000 barrels per day and supplies over 70% of Nigeria's energy consumption.
- ▪Aliko Dangote, who has a net worth of approximately $28 billion, intends to use the raised funds to double the refinery's capacity.
- ▪Financial experts have advised investors to only commit money they can afford to lose for several years and to avoid unlisted institutions to prevent scams.
2 outlets in our directory ran this story, first to last over 3 hours. All of the coverage we found sits in one bucket: lean left. That one-sidedness is itself worth noticing.
- ▪ Africa’s richest man aiming to make $23bn from continent’s biggest-ever IPO — The Guardian — World
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| Original publisher | BBC News — World |
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| Publication time | Mon, 14 Sep 2026 16:23:42 GMT |
| Retrieval time | 2026-09-14T16:26:51.471Z |
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Africa's richest man launches continent's biggest share saleImage source, Getty ImagesImage caption, The refinery, which opened in 2024, is one of the largest in the worldByMansur AbubakarReporting fromAbujaPublished7 minutes agoNigerian billionaire Aliko Dangote has launched Africa's largest ever share sale, offering a stake in his oil refinery to the general public in a deal that could raise as much as $2.1bn (£1.6bn).The initial public offering (IPO) is for roughly 3% of the Dangote refinery, with the billionaire saying he wanted to give ordinary Nigerians the chance to share in the plant's success.The refinery, which started production in 2024, is one of the largest in the world and took more than a decade to complete.It now supplies more than 70% of Nigeria's energy consumption, and…
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