A video currently circulating online has captured the moment Africa’s richest man, Aliko Dangote, responded to a journalist who questioned his decision to offer shares in his refinery to the public through an Initial Public Offering.
Dangote Petroleum Refinery and Petrochemicals FZE commenced its public offer on September 14, 2026, with the company offering 4.1 billion ordinary shares at N525 per share.
The offering is expected to raise approximately N2.15 trillion, with the proceeds earmarked to support the refinery’s expansion plans.
As part of the offer, interested investors can subscribe for a minimum of 10 shares at a total cost of N5,250.
The public offer is scheduled to close on October 13, 2026.
The refinery’s expansion plans are expected to increase its production capacity to 1.4 million barrels per day.
Amid the ongoing IPO, a recent interview involving Dangote has attracted attention online after a journalist questioned why the billionaire needed to raise funds from the public despite being one of the world’s wealthiest individuals.
The journalist suggested that Dangote could have financed the project from his personal wealth rather than offering shares to members of the public.
Responding to the question, Dangote explained that the IPO was not primarily about raising money for himself but about giving ordinary Nigerians the opportunity to own a stake in the refinery.
According to him, the public offer was structured to allow people from different backgrounds, including his employees and members of the journalist’s own family, to participate.
Dangote said, “Let me tell you, the IPO we are doing is not that we want to raise money, it is purely we want to help the poor people, like my driver, my cook, YOUR SELF, YOUR WIFE, YOUR KIDS have a piece of the action.”
The response has since generated reactions online, with many social media users sharing and discussing the exchange between the billionaire businessman and the journalist.
