12/12/2025
Great inspiration
Dangote always putting Nigeria on the world map.
Africa’s richest man, Aliko Dangote, is planning U.S. dollar payouts for Nigerian shareholders from his $20 billion refinery listing.
Dangote told investors that once the refinery lists on the Nigerian Exchange next year, shareholders could receive dividends in dollars—a rare move in a market dominated by naira payouts.
The dollar dividends would be supported by an estimated $6.4 billion in annual revenue from petrochemical exports, including polypropylene and fertilizer.
The listing, expected in 2026, will see 5 to 10 percent of the refinery offered to local and foreign investors. Dangote aims to keep no more than 65 to 70 percent of the company while gradually releasing shares based on market appetite.
The refinery, which started operations in 2024 at 350,000 barrels per day, now processes about 650,000 barrels daily, with plans to reach 700,000 barrels by late 2025. Expansion deals with Honeywell could lift capacity to 1.4 million barrels per day, making it the world’s largest refinery.
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