{"id":5852,"date":"2026-09-10T11:54:35","date_gmt":"2026-09-10T11:54:35","guid":{"rendered":"https:\/\/livenation254.com\/?p=5852"},"modified":"2026-09-10T11:54:35","modified_gmt":"2026-09-10T11:54:35","slug":"billionaire-dangote-plans-to-sell-more-than-4-billion-ordinary-shares","status":"publish","type":"post","link":"https:\/\/livenation254.com\/?p=5852","title":{"rendered":"Billionaire Dangote plans to sell more than 4 billion ordinary shares"},"content":{"rendered":"

In an interview with CNN\u2019s Eleni Giokos, Dangote Group CEO Aliko Dangote discussed the company\u2019s upcoming IPO and plans to further expand its Lagos refinery.
\nThe Dangote Group plans to sell more than 4 billion ordinary shares, set to be the continent\u2019s biggest ever share sale. Dangote told Giokos, \u201cThis is going to be the biggest IPO ever in the history of Africa. And I definitely hope it will be massively oversubscribed. The demand is very, very overwhelming.\u201d<\/p>\n

\"\"<\/p>\n

Dangote discussed his decision to list on the Nigerian stock exchange, saying, \u201cEvery African has an opportunity to have a stake in this great refinery.\u201d<\/p>\n

The IPO proceeds are set to fund an expansion that would increase Dangote\u2019s Lagos refinery\u2019s capacity to 1.4 million barrels per day, potentially making it the world\u2019s largest operating refinery. Dangote explains, \u201cWhen we get there, we will be a major supplier of jet fuel to the world market, not only Europe. We\u2019ll be the biggest in terms of gas oil, which means diesel, to the world market.\u201d<\/p>\n

Key Quotes
\nDangote on the IPO:
\n\u201cThis is going to be the biggest IPO ever in the history of Africa. And I definitely hope it will be massively oversubscribed. The demand is very, very overwhelming.\u201d
\nDangote on the decision to list on the Nigerian stock exchange:
\n\u201cThe IPO is going to open. I think every, you know, African has an opportunity to have a stake in this great refinery. After we have gone to 1.4 million in the next two and a half years, we will now list in you know in the US, and I believe a lot of other people too will join because by that time we are going to be the biggest refinery ever in the history of the world with a massive petrochemical complex, and I think it is going to be something that people would definitely rush buy.\u201d<\/p>\n

Dangote on further expansion:
\n\u201cWhen we get there, we will be a major supplier of jet fuel to the world market, not only Europe. We\u2019ll be the biggest in terms of gas oil, which means diesel, to the world market.\u201d<\/p>\n

Dangote on future partnership opportunities:
\n\u201cPotential partnership is always there. You know there are quite a lot of people, without mentioning names, that are talking to us. They really want to partner with us. We have quite a lot, but you know we are not trying to gather people to now go and make these investments. We always want to go and invest. We wanted to risk that investment by putting up our own resources to make sure that we deliver, so that nobody will be thinking about risk. But internationally, whether there is interest, massive interest, there are quite a lot of people who, yes, they have a lot of interest.\u201d<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

In an interview with CNN\u2019s Eleni Giokos, Dangote Group CEO Aliko Dangote discussed the company\u2019s upcoming IPO and plans to further expand its Lagos refinery.… <\/p>\n","protected":false},"author":3,"featured_media":5853,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[],"class_list":["post-5852","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/livenation254.com\/index.php?rest_route=\/wp\/v2\/posts\/5852","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/livenation254.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/livenation254.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/livenation254.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/livenation254.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5852"}],"version-history":[{"count":1,"href":"https:\/\/livenation254.com\/index.php?rest_route=\/wp\/v2\/posts\/5852\/revisions"}],"predecessor-version":[{"id":5854,"href":"https:\/\/livenation254.com\/index.php?rest_route=\/wp\/v2\/posts\/5852\/revisions\/5854"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/livenation254.com\/index.php?rest_route=\/wp\/v2\/media\/5853"}],"wp:attachment":[{"href":"https:\/\/livenation254.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5852"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/livenation254.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5852"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/livenation254.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5852"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}