President of Dangote Industries Limited, Aliko Dangote, has said he no longer wants to be described as the richest man in Africa, explaining that he would rather be recognised for creating wealth and opportunities for other people.
Dangote made the remarks on Monday while sounding the gong at the Nigerian Exchange (NGX) in Lagos to formally launch the Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals.
Explaining his preference, the billionaire businessman said, “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.
Dangote said the refinery’s IPO was providing investors with an opportunity to participate in what he described as a major transformational phase for the economies of Nigeria and Africa.
“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,” Dangote said.
He also called for greater participation in Nigeria’s capital market and 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 further reflected on the personal sacrifices involved in 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, noting that his work had meant sacrificing significant family time over the years.
The Dangote Refinery IPO opened on Monday, September 14, 2026, offering 4.1 billion new ordinary shares 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 contained in the prospectus.
The ceremony on the trading floor of the NGX in Lagos also marked the first time a refinery has been offered on the Nigerian stock market in the exchange’s 66-year history.
