I don’t want to be called the richest man in Africa — Dangote
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President of Dangote Industries Limited, Aliko Dangote, has said he no longer wants to be referred to as the richest man in Africa, saying he would rather be known as the “wealthiest man” who creates wealth for others.
Dangote made the remark on Monday while sounding the gong at the Nigerian Exchange to formally launch the Initial Public Offering of Dangote Petroleum Refinery and Petrochemicals in Lagos.
“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.
The billionaire said the IPO represented an opportunity for investors to participate in what he described as a transformational chapter for Nigeria and Africa’s economies.
Today, we are not merely offering shares. We are offering an opportunity to participate in the transformational chapter of not only Nigeria’s economy, of Africa’s economy,” Dangote said.
He urged Nigerians to deepen the capital market and promote wider ownership of wealth.
“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.
Dangote also acknowledged the personal sacrifices he had made over the years, particularly the time spent away from his family while building his business empire.
He thanked his three daughters, Mariya, Halima and Fatima, for their understanding and support, saying he had deprived himself of family time for many years.
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, with a minimum subscription of 10 shares valued at N5,250.
The offer is scheduled to close on October 13, 2026, subject to the terms contained in the prospectus.
The ceremony, held on the trading floor of the NGX in Lagos, marked the first time a refinery has been offered on the Nigerian stock market in the Exchange’s 66-year history.
