Aliko Dangote has announced plans to list the fertilizer and petrochemical divisions of the Dangote Refinery on the stock exchange in the first quarter of 2025. The President of Dangote Group shared this during a media briefing at the Dangote Refinery.
This decision aims to expand the conglomerate’s investor base and unlock additional value for shareholders.
“Given the nature of our businesses—both the refinery and the fertilizer—we are targeting the end of this year, but it depends. Most likely, at worst, we will be able to list them before the end of the first quarter next year, allowing us to sell shares that Nigerians can buy,” Dangote stated.
Previously, in an interview with the Financial Times, Aliko Dangote revealed the intention to publicly list his Dangote Petroleum Refinery on the Nigerian Exchange Limited. In May, he announced plans for a dual listing on both the London and Lagos stock exchanges.
Devakumar Edwin, a Dangote refinery executive, told Reuters that the Nigerian Stock Exchange alone would not be sufficient to handle the refinery, necessitating the London listing. In February, Umaru Kwairanga, Chairman of the Nigerian Exchange Group, also confirmed that Dangote Industries plans to list its refinery and fertilizer companies.
The Dangote Refinery, recently ranked above Europe’s 10 largest refining facilities, boasts a processing capacity of 650,000 barrels per day and represents a $20.5 billion investment.
Earlier this year, Dangote Cement, a subsidiary of Dangote Industries Limited, surpassed the N10 trillion market cap, becoming the first Nigerian company to achieve this milestone.
