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‘Don’t Call Me the Richest Man in Africa’ — Dangote
Dangote explains why he rejects the ‘richest man in Africa’ label as he launches the Dangote Refinery IPO at the NGX in Lagos.
LAGOS — Africa’s billionaire industrialist, Aliko Dangote, has asked Nigerians to stop referring to him as the continent’s richest man, saying his bigger ambition is to create wealth and opportunities for others.
Dangote made the statement on Monday at the Nigerian Exchange (NGX) in Lagos, where he sounded the gong to formally 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.
According to Dangote, the refinery’s IPO goes beyond the sale of shares, describing it as a chance for investors to take part in a major economic transformation across Nigeria and Africa.
“Today, we are not merely offering shares. We are offering an opportunity to participate in the transformational chapter of not only Nigeria’s economy, but Africa’s economy,” Dangote said.
He urged Nigerians to embrace greater participation in the capital market, saying wider ownership could help spread prosperity.
“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.
The business mogul also opened up about the sacrifices that came with building his business empire, particularly the time he spent away from his family.
Dangote expressed appreciation to his three daughters, Mariya, Halima and Fatima, for their understanding and support, acknowledging that his demanding business commitments had taken away significant family time over the years.
The Dangote Petroleum Refinery and Petrochemicals IPO opened on Monday, September 14, 2026, with 4.1 billion new ordinary shares being offered at N525 each.
Investors can subscribe for a minimum of 10 shares, worth N5,250. The offer is scheduled to close on October 13, 2026, subject to the terms contained in the prospectus.
The launch ceremony at the NGX trading floor also made history, as it marked the first time a refinery has been offered on the Nigerian stock market in the Exchange’s 66-year history.
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