{"id":4166,"date":"2026-09-11T21:54:18","date_gmt":"2026-09-11T21:54:18","guid":{"rendered":"https:\/\/consumerconnectng.com\/?p=4166"},"modified":"2026-09-11T22:40:18","modified_gmt":"2026-09-11T22:40:18","slug":"global-leaders-support-dangote-refinery-ipo-to-democratise-industrial-wealth-in-africa","status":"publish","type":"post","link":"https:\/\/consumerconnectng.com\/?p=4166","title":{"rendered":"Global leaders support Dangote Refinery IPO to democratise industrial wealth in Africa"},"content":{"rendered":"<p>*<strong><em>Aliko Dangote, President and Chief Executive of Dangote Industries Limited, explains the philosophy behind the IPO of Dangote Petroleum Refinery is to extend the prosperity beyond its promoters by according ordinary Africans an opportunity to become part owners<\/em><\/strong><\/p>\n<p>Isola Moses | ConsumerConnect<\/p>\n<p>The proposed Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals has received strong backing from prominent African and international leaders.<\/p>\n<p>The Management of Dangote Refinery said the opening the industrial giant to wider ownership could mark a new phase in African wealth creation, industrialisation and economic sovereignty.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"1N5ip7c1uo\"><p><a href=\"https:\/\/consumerconnectng.com\/?p=4158\">Child Online Protection: Nigeria moves to regulate under-16 Internet access over cyberthreats<\/a><\/p><\/blockquote>\n<p><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; visibility: hidden;\" title=\"\u201cChild Online Protection: Nigeria moves to regulate under-16 Internet access over cyberthreats\u201d \u2014 Consumer Experience Is A Top Priority\" src=\"https:\/\/consumerconnectng.com\/?p=4158&amp;embed=true#?secret=VGqTd7JrOW#?secret=1N5ip7c1uo\" data-secret=\"1N5ip7c1uo\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>The leaders, speaking at the 2026 ADF Africa Diaspora Leadership Programme Young Global Leaders Convening in Lagos on Thursday, said the refinery had already demonstrated Africa\u2019s capacity to build at global scale, while its proposed IPO could allow ordinary Africans, pension funds, institutional investors, and the Diaspora, to participate directly in the wealth created by one of the continent\u2019s biggest industrial investments.<\/p>\n<p>Aliko Dangote, President and Chief Executive (CE), Dangote Industries Limited (DIL), said the philosophy behind the IPO was to extend the prosperity created by the refinery beyond its promoters and give ordinary Africans an opportunity to become owners.<\/p>\n<p>Dangote, during a fireside chat, stated: \u201cI want drivers, cooks, the woman selling food on the streets of Ghana, Rwanda and South Africa to invest so they can share in this prosperity.<\/p>\n<p>\u201cWe are doing the IPO to pass this prosperity to Africans.\u201d<\/p>\n<p>The President\/CE of DIL that his ambition had always gone beyond accumulating wealth to building enterprises capable of creating jobs, opportunities and prosperity across the continent.<\/p>\n<p>Dangote further said: \u201cI am wealthy, not rich. A wealthy man creates wealth, while a rich man makes money and keeps it for himself.<\/p>\n<p>\u201cWhat keeps me going is that we must industrialise Africa.&#8221;<\/p>\n<p>He stated: &#8220;There is no amount of hurdle that will stop us. If you put a brick wall in front of me, I will make a hole and pass through.\u201d<\/p>\n<p>The DIL Chief Executive expressed confidence that the refinery could eventually become Africa\u2019s largest company by size and profitability, drawing parallels with global corporations, such as Amazon, Microsoft, Tesla and Alibaba, which grew substantially after entering the public markets.<\/p>\n<p>\u201cBy the grace of God, this refinery will be the largest company in Africa by size and profitability,\u201d he said.<\/p>\n<p>He said the Group\u2019s wider mission was to reduce the perceived risks associated with investing in Africa and demonstrate that globally competitive enterprises could be built successfully on the continent.<\/p>\n<p>\u201cOur job is to derisk Africa, encourage more investors, create jobs and create more opportunities.<\/p>\n<p>\u201cThat is how we will transform Africa,\u201d Dangote said.<\/p>\n<p>Former United States (US) Assistant Secretary of State for African Affairs and Co Chair of The Africa Center, Ambassador Jendayi Frazer, said the proposed IPO could connect African industrial production with African and diaspora capital, broadening participation in the value created by the continent\u2019s strategic assets.<\/p>\n<p>Frazer said: \u201cThe Refinery connects us all through the proposed IPO that creates broader ownership.<\/p>\n<p>\u201cIt can broaden participation in the value created by African industry.<\/p>\n<p>&#8220;It can connect investment with African production to scale with African institutions, pension funds, savers, individual investors, including the African diaspora coming into this, owning a stake in Africa\u2019s growth.\u201d<\/p>\n<p>Frazer said the refinery had already \u201cchanged the equation\u201d for Africa, with implications extending far beyond petroleum production into the continent\u2019s geopolitical standing.<\/p>\n<p>\u201cEconomic power is not only what a country possesses, it\u2019s what it can create, process, finance, transport and sell.<\/p>\n<p>&#8220;Supply chains, energy systems and capital markets shape sovereignty,\u201d she said.<\/p>\n<p>She said the refinery demonstrated what was possible when African ambition was matched by capital, technical knowledge, partnerships and disciplined execution.<\/p>\n<p>\u201cAfrica does not need the world\u2019s permission to build,\u201d Frazer said, \u201cand the world, if it comes as a partner and not a prospector, will find that Africa has already started.\u201d<\/p>\n<p>Governor Babajide Sanwo of Lagos State similarly, called for a new model of African industrial ownership in which ordinary citizens, institutional investors and diaspora capital hold stakes on the continent\u2019s strategic assets.<\/p>\n<p>Sanwo Olu said: \u201cThe next frontier of African scale is not another giant.<\/p>\n<p>&#8220;It is a thousand ordinary owners: the teacher in Enugu, the nurse in New Jersey and the pension fund in Nairobi, each holding a piece of the strategic assets of their own continent.&#8221;<\/p>\n<p>The Lagos Governor described the refinery as compelling evidence of Africa\u2019s capacity to execute projects once considered beyond its reach.<\/p>\n<p>\u201cMr. Dangote did not build a refinery. He built a country around a refinery, and then he built the refinery.<\/p>\n<p>\u201cThere was no port that could receive the equipment, so he built a jetty.<\/p>\n<p>&#8220;There was not enough power, so he built a power plant.\u201d<\/p>\n<p>Noting that the project survived enormous construction challenges, the COVID 19 pandemic and severe currency depreciation, Sanwo Olu recalled predictions that it would never become operational. It runs,\u201d he declared.<\/p>\n<p>\u201cAfrica can build at market changing scale. Not in theory. Here.\u201d<\/p>\n<p>He, however, challenged governments to build the infrastructure and institutions required to ensure future African investors do not have to overcome similar obstacles.<\/p>\n<p>\u201cThe true measure of this refinery is not that it stands. It is whether the next one is easier,\u201d he said.<\/p>\n<p>Fatima Aliko Dangote, Group Executive Director, Commercial Operations, Dangote Industries Limited, said Africa must now move beyond merely possessing natural resources and talent to building the productive capacity and institutions required to retain the value they create.<\/p>\n<p>She said the deeper question was what Africa could build, process, finance and own, arguing that development must ultimately translate into tangible improvements in people\u2019s lives.<\/p>\n<p>\u201cThis is more than a Dangote story. It is a story about what Africa must build, what Africa must own, and what this generation of leaders must help make possible,\u201d she said.<\/p>\n<p>Fatima Dangote, who is also a Trustee of the Aliko Dangote Foundation, Trustee of The Africa Center in New York and Patron of the Aliko Dangote Young Global Leaders Fellowship, said sustainable development must ultimately be measured by its impact on people.<\/p>\n<p>Afreximbank, which provided significant financial backing for the refinery, described the project as its African industrialisation mission \u201cmade concrete\u201d.<\/p>\n<p>Speaking on behalf of President and Chairman of the Board of Directors, Afreximbank, Dr. George Elombi, Director, Creatives and Diaspora, Intra African Trade and Export Development Bank, Temwa Roosevelt Gondwe, said Afreximbank underwrote $2.5 billion of the $4 billion syndicated loan supporting the refinery and subsequently provided a $1 billion working capital facility.<\/p>\n<p>\u201cUnless we produce, we cannot trade. Unless we capture value, we cannot prosper,\u201d Gondwe said.<\/p>\n<p>Dangote described the Refinery as a proof that Africa could move from exporting raw materials towards processing resources and capturing more value on the continent.<\/p>\n<p>The convening also highlighted the Aliko Dangote Foundation\u2019s investment in Africa\u2019s leadership pipeline.<\/p>\n<p>The statement as well noted over the past 15 years, the YGL Aliko Dangote Fellowship, a collaboration between the Foundation and the World Economic Forum, has supported over 130 young African leaders to participate in the global Young Global Leaders community.<\/p>\n<p>Beneficiaries including, Founder and Chief Executive Officer, I Am The Code, Lady Mari\u00e9me Jamme, whose initiative aims to enable a million young women and girls to become coders by 2030, Chief Executive Officer, African Leadership Academy, Hatim Eltayeb; and Kenyan technologist and open source advocate, Angela Oduor Lungati, commended the ADF for supporting them.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>*Aliko Dangote, President and Chief Executive of Dangote Industries Limited, explains the philosophy behind the IPO of Dangote Petroleum Refinery is to extend the prosperity&hellip;<\/p>\n","protected":false},"author":2,"featured_media":4179,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"_FSMCFIC_featured_image_caption":"L R: President\/Chief Executive of Dangote Industries Limited, Aliko Dangote; Governor Babajide Sanwo Olu of Lagos State\u201d, and Representative of the President of Rwanda and Chief Executive Officer, Rwanda Development Board, Jean Guy Afrika, During the 2026 ADF Africa Diaspora Leadership Programme Young Global Leaders Convening at the Dangote Petroleum Refinery and Petrochemicals, in Lagos       Photo: DIL\r\n","_FSMCFIC_featured_image_nocaption":"","_FSMCFIC_featured_image_hide":"","_customify_content_layout":"","_customify_sidebar":"","_customify_page_header_display":"default","_customify_disable_header":"","_customify_disable_header_top":"","_customify_disable_header_main":"","_customify_disable_header_bottom":"","_customify_disable_page_title":"","_customify_disable_content_vertical_padding":"","_customify_disable_footer_top":"","_customify_disable_footer_main":"","_customify_disable_footer_bottom":"","_customify_breadcrumb_display":"","_customify_header_transparent_display":"default","footnotes":""},"categories":[20,3,4],"tags":[],"class_list":["post-4166","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-highlights","category-infoeducation","category-markets"],"featured_image_urls":{"full":["https:\/\/consumerconnectng.com\/wp-content\/uploads\/2026\/09\/Dandgote-and-Sanwo-Olu-cc.png",672,360,false],"thumbnail":["https:\/\/consumerconnectng.com\/wp-content\/uploads\/2026\/09\/Dandgote-and-Sanwo-Olu-cc-150x150.png",150,150,true],"medium":["https:\/\/consumerconnectng.com\/wp-content\/uploads\/2026\/09\/Dandgote-and-Sanwo-Olu-cc-300x161.png",300,161,true],"medium_large":["https:\/\/consumerconnectng.com\/wp-content\/uploads\/2026\/09\/Dandgote-and-Sanwo-Olu-cc.png",672,360,false],"large":["https:\/\/consumerconnectng.com\/wp-content\/uploads\/2026\/09\/Dandgote-and-Sanwo-Olu-cc.png",672,360,false],"1536x1536":["https:\/\/consumerconnectng.com\/wp-content\/uploads\/2026\/09\/Dandgote-and-Sanwo-Olu-cc.png",672,360,false],"2048x2048":["https:\/\/consumerconnectng.com\/wp-content\/uploads\/2026\/09\/Dandgote-and-Sanwo-Olu-cc.png",672,360,false]},"author_info":{"info":["ConsumerConnect"]},"category_info":"<a href=\"https:\/\/consumerconnectng.com\/?cat=20\" rel=\"category\">Highlights<\/a> <a href=\"https:\/\/consumerconnectng.com\/?cat=3\" rel=\"category\">InfoEducation<\/a> <a href=\"https:\/\/consumerconnectng.com\/?cat=4\" rel=\"category\">Markets<\/a>","tag_info":"Markets","comment_count":"0","_links":{"self":[{"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/posts\/4166","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4166"}],"version-history":[{"count":2,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/posts\/4166\/revisions"}],"predecessor-version":[{"id":4187,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/posts\/4166\/revisions\/4187"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/media\/4179"}],"wp:attachment":[{"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4166"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4166"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4166"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}