Dangote Laughs Off Petty Refinery Share-Buyers Calling Him ‘Business Partner’ And Inviting Him For Meetings Online
Africa’s richest man, Aliko Dangote, has reacted to the wave of Nigerians jokingly declaring themselves his “business partners” after buying shares in the Dangote Petroleum Refinery.
Speaking during an interview at the Qatar Economic Forum on Sunday, Dangote laughed and cheerfully acknowledged the social media jokes, including calls from new shareholders for a “board meeting.”
“You must have seen that they’ve been calling me now for a board meeting,” Dangote said.
The jokes followed the launch of the Dangote Refinery’s initial public offering (IPO), which has been marketed as a “people’s IPO” and allows Nigerians to buy a stake in the refinery.
Some new investors have taken to social media to portray themselves as co-owners, board members and executives, with some even sharing mock ownership certificates bearing titles such as “chief investment officer” and “co-founder and partner.”
Others have posted videos joking about monitoring the refinery’s operations, demanding updates and preparing for meetings with Dangote.
While discussing the decision to bring more investors into his businesses, Dangote said his companies had traditionally operated without external partners.
“We have actually everything we do by ourselves. We don’t have partners. But that’s why we are now looking for all these massive number of people to now become our partners,” he said.
The refinery share offer has generated significant public interest, with retail investors embracing the opportunity to own a stake in one of Africa’s biggest industrial projects.
The online jokes have turned the IPO into a wider social media moment, with Nigerians humorously presenting their small shareholdings as a ticket into Dangote’s boardroom.
Beyond the refinery, Dangote also confirmed that his fertiliser business will be taken public.
Asked whether the company would launch an IPO, he replied: “Oh, yeah, yeah. I mean, we will IPO it. It’s going to be the biggest fertilizer company on earth.”
Asked when, Dangote gave a clear timeline.
“Yes, it will be 2028.”
Dangote Fertiliser operates a $2.5 billion plant in Ibeju-Lekki, Lagos, with an annual capacity of about 3 million tonnes of urea.
The group plans to significantly expand its fertiliser production capacity, with a target of about 12 million tonnes annually by 2028, including planned expansion in Nigeria and a proposed plant in Ethiopia.
