Africa’s richest man Aliko Dangote’s $1.6 billion refinery IPO could multiply Nigeria’s active investors fivefold and connect its shares to markets across Africa
Africa’s richest man, Aliko Dangote, could bring millions of Nigerians into the stock market through the $1.6 billion public offering of his oil refinery, according to the head of the country’s exchange. Temi Popoola, chief executive of Nigerian Exchange Group, said the landmark share sale could multiply Nigeria’s active investor population by between three and five times.
By Ayodeji AdegboyegaSouth Africa
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Dangote Petroleum Refinery is offering 4.1 billion shares at $0.39 (₦525) each, with a minimum subscription of 10 shares. [Dangote Group]
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About this article
- Length
- 21 words · 1 min read
- Published
- October 23, 2026
- Byline
- Ayodeji Adegboyega
- Source
- Business Insider