Dangote Says Refinery Listing Will Open Africa’s Industrial Wealth to Investors

President of Dangote Group, Aliko Dangote, says the planned listing of the Dangote Petroleum Refinery & Petrochemicals on the Nigerian Exchange is aimed at opening Africa’s industrial sector to wider investor participation and democratizing wealth creation across the continent.

Dangote made the remarks during a visit by leaders of South Africa’s Government Employees Pension Fund (GEPF), the Public Investment Corporation (PIC), and Alterra Capital Partners to the refinery and fertiliser plants in Lagos.

He said the listing would allow Africans to directly participate in the continent’s industrial growth, stressing that large-scale projects such as the refinery should not remain limited to a few investors but should instead create broad-based economic opportunities.

According to him, Africa’s next phase of economic development must be driven by strong industrial infrastructure capable of generating jobs, boosting production capacity, and supporting long-term wealth creation.

Dangote also said demand for petroleum products such as polypropylene, aviation fuel, and refined products continues to rise across Africa, reinforcing the commercial strength of the refinery and shaping expansion plans.

He noted that despite initial expectations of focusing primarily on domestic supply, current demand levels have exceeded projections, leaving the refinery operating at near-maximum capacity.

Meanwhile, the Dangote Group also disclosed progress on the proposed Olokola Deep Seaport project, a multi-billion-dollar infrastructure development spanning parts of Ogun and Ondo States.

The project, which forms part of the group’s “Vision 2030” expansion plan, is expected to strengthen Nigeria’s maritime capacity, improve logistics, and support export-led industrialisation.

The South African delegation described the refinery as proof of Africa’s ability to execute large-scale industrial projects, with institutional investors expressing interest in deeper partnerships with African industrial players.

Dangote and local refineries can satisfy Nigeria’s petrol demand, according to JETFON

They said the project demonstrates that with long-term capital and strong leadership, Africa can compete at global industrial standards while reshaping perceptions of its economic capacity.

The Olokola Deep Seaport, according to Dangote Industries, is expected to enhance trade efficiency, create jobs, attract foreign investment, and support regional commerce under the African Continental Free Trade Area framework.

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