‘I Don’t Want to Be Called Africa’s Richest Man Again’ — Dangote

President of Dangote Industries Limited, Aliko Dangote, has said he no longer wants to be described as the richest man in Africa, saying his greater ambition is to create wealth and opportunities for others.

Dangote spoke 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.

The billionaire businessman said he would prefer to be recognised for his contribution to wealth creation rather than his personal fortune.

“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.

Speaking on the significance of the IPO, Dangote said the share offering would give investors an opportunity to participate in what he described as a major transformation of Nigeria’s economy and the wider African economy.

“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,” he said.

Dangote also urged Nigerians to embrace the capital market and promote broader ownership of wealth, stressing that increased participation would contribute to building a stronger economy.

“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 reflected on the personal sacrifices he made while building his business empire, particularly the amount of time he spent away from his family because of his business commitments.

He acknowledged his three daughters — Mariya, Halima and Fatima — for their understanding and support over the years, noting that his demanding business schedule had deprived him of significant family time.

The IPO, which opened on Monday, September 14, 2026, offers 4.1 billion new ordinary shares of Dangote Petroleum Refinery and Petrochemicals at N525 per share.

The minimum subscription is 10 shares, valued at N5,250, while the offer is scheduled to close on October 13, 2026, subject to the terms and conditions contained in the prospectus.

The ceremony, held on the trading floor of the NGX in Lagos, marked a significant milestone for the Nigerian capital market, as the Dangote refinery became the first refinery to be offered on the Nigerian stock market in the Exchange’s 66-year history.

The IPO is expected to broaden public participation in the refinery and provide investors with an opportunity to own shares in one of Nigeria’s major industrial projects.

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