President of Dangote Industries Limited, Aliko Dangote, has said he would prefer not to be described as the richest man in Africa, saying his goal is to be recognised as the “wealthiest man” who helps create wealth for others.
Dangote made the remarks on Monday while sounding the gong at the Nigerian Exchange (NGX) in Lagos to officially launch the Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals.
“I don’t want anybody again to call me the richest man in Africa. I want to be called the wealthiest man in Africa so that I can create wealth for others,” he said.
The billionaire described the IPO as an opportunity for investors to take part in what he called a transformative period for Nigeria and Africa’s economies.
“Today, we are not merely offering shares. We are offering an opportunity to participate in the transformational chapter of not only Nigeria’s economy, of Africa’s economy,” Dangote said.
He also called on Nigerians to strengthen the country’s capital market and encourage broader participation in wealth creation.
“Together, let us deepen our capital market. Together, let us create prosperity through ownership. Together, let us build a stronger Nigeria. Together, let us ensure prosperity for Africa,” he said.
Dangote also spoke about the personal sacrifices involved in building his business empire, particularly the years he spent away from his family.
He expressed appreciation to his three daughters, Mariya, Halima and Fatima, for their understanding and support, acknowledging that his business commitments had meant sacrificing significant family time.
The IPO opened on Monday, September 14, 2026, offering 4.1 billion new ordinary shares in Dangote Petroleum Refinery and Petrochemicals at N525 per share. The minimum subscription is 10 shares, valued at N5,250.
The offer is expected to close on October 13, 2026, subject to the conditions outlined in the prospectus.
The event took place on the trading floor of the NGX in Lagos and marked the first time a refinery has been offered on the Nigerian stock market in the Exchange’s 66-year history.
