Aliko Dangote, president of Dangote Group, said the planned listing of Dangote Petroleum Refinery on the Nigerian Exchange is intended to widen participation in Africa’s industrial expansion and allow more Africans to benefit directly from the continent’s growth.
Visit highlights focus on industrial scale and jobs
Dangote shared the view during a visit to the refinery in Ibeju Lekki, Lagos State, by officials from South Africa’s Government Employees Pension Fund (GEPF), the Public Investment Corporation (PIC), and Alterra Capital Partners. During the meeting, he emphasized the importance of large-scale industrial investment across Africa.
He argued that bringing the refinery to the market would help broaden investment options, create employment, enhance production capability, and support economic growth throughout the continent.
“We want Africans to be part of this journey and benefit directly from the industrial opportunities being created,” Dangote said.
From supplying Nigeria to meeting local and export demand
Dangote added that the company initially concentrated on meeting Nigeria’s energy needs. However, he said growth in demand across domestic markets and export channels has strengthened the case for expansion.
He also pointed to the broader strategic value of industrial projects at this scale, arguing they are important for reducing reliance on external markets while strengthening Africa’s economic performance.
Investor confidence and transformational infrastructure
Frans Baleni, chairman of GEPF, described the refinery as evidence that Africa can deliver infrastructure projects capable of transforming economies when strong leadership is paired with strategic capital deployment. He linked the rising interest from investors to a growing level of confidence in Africa-led industrialisation.
- GEPF’s chairman said the refinery demonstrates Africa’s ability to build transformational infrastructure.
- He cited strong leadership and strategic investment as key drivers of that outcome.
- He noted that increased investor attention signals confidence in Africa’s industrialisation model.
