Chairman of the Dangote Group, Aliko Dangote has announced plans to list a 10 per cent stake in the group’s $20 billion refinery on the Nigerian Exchange in 2026. Report shows that the move will be accompanied by dividend payouts in US dollars.
Dangote said the initiative is intended to protect investors from currency volatility. He also noted that shares will be purchased in naira but dividends will be paid in dollars.
He explained the payout plan will be supported by an estimated $6.4 billion in export earnings from petrochemicals and fertiliser. The business mogul stated this will provide a stable hard currency supply for shareholders.
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Dangote added that the company is working closely with the Nigerian Exchange and the Securities and Exchange Commission to finalise the structure of the initial public offering.
The plan will cover all shareholders of Dangote Cement, Dangote Refinery, and Dangote Fertiliser, ensuring that dollar-denominated dividends are consistently distributed.
He said the NGX listing is part of a broader Vision 2030 expansion strategy, aiming to raise group revenues to $100 billion and achieve a market capitalisation of over $200 billion by 2030.
Officials said the refinery is positioned to become a flagship stock on the exchange and a key asset in Nigeria’s industrial and capital markets.
