Aliko Dangote, founder of the Dangote Group and Africa’s richest man, has confirmed that the group plans to list its fertiliser business on the stock exchange in 2028. He also acknowledged calls from new Nigerian shareholders for a “board meeting.”
Dangote made the remarks during an interview at the Qatar Economic Forum on Sunday while discussing the ownership structure of his companies and plans to attract more investors.
Responding to questions about bringing in additional shareholders, Dangote said, “No, we have actually everything we do by ourselves. There are no partners for us. However, for this reason, we are currently seeking a huge number of people to join us as partners.”
He then joked that the new shareholders had been asking for a board meeting, referencing the social media trend among Nigerians who recently bought shares in Dangote Petroleum Refinery.
“You must have seen that they’ve been calling me now for a board meeting,” Dangote said.
The ongoing Dangote Petroleum Refinery initial public offering (IPO), promoted as a “people’s IPO”, has sparked a wave of memes and humorous social media posts.
Retail investors who bought at least 10 shares have taken to social media to portray themselves as co-owners and newly appointed refinery executives.
While some Nigerians have shared videos joking about monitoring the refinery’s performance or holding virtual meetings with Dangote, others have posted certificates bearing their photos and titles such as “chief investment officer” and “co-founder and partner.”
Dangote fertilizer IPO
Dangote also confirmed that the group plans to list its Dangote fertilizer on the stock exchange when asked about preparations for an initial public offering (IPO).
“Oh, sure, yeah,” he said. “We’ll IPO it, after all. It will be the world’s largest fertilizer manufacturer.”
Asked about the timeline, Dangote replied, “Yes, it will be 2028.”
Dangote Fertilizer operates a $2.5 billion fertilizer plant in Ibeju-Lekki, Lagos, with an annual capacity of about three million tonnes of urea.
The company also plans to increase its fertilizer production capacity to about 12 million tonnes annually by 2028. The expansion plans include scaling up its Nigerian operations and establishing a plant in Ethiopia.
Dangote said the development would place the fertilizer company among the world’s largest urea producers.
The confirmation of the 2028 IPO provides the latest timeline announced by Dangote for the fertilizer company’s listing.
The move comes as Nigerian retail investors continue to show interest in the Dangote Petroleum Refinery’s planned initial public offering (IPO), which would open the group’s refinery ownership to the public.
Backstory…
The latest comments came shortly after the Dangote Petroleum Refinery opened its Initial Public Offering (IPO) to members of the public, marking a major shift in the ownership structure of one of Nigeria’s biggest industrial projects.
The refinery’s IPO officially opened on the Nigerian Exchange (NGX) on September 14, 2026, with 4.1 billion ordinary shares offered at ₦525 each.
The offer is expected to raise about ₦2.15 trillion if fully subscribed and is scheduled to close on October 13. The minimum subscription is 10 shares, meaning an individual can participate with ₦5,250
Read Also: Dangote Predicts Refinery Shares Could Rise From ₦525 to ₦10,000
