When his $20 billion oil refinery listings on the Nigerian Exchange in 2026, Aliko Dangote, the president of the Dangote Group, has revealed plans to provide an inventive dividend structure that will enable shareholders to earn returns in US dollars even if they bought shares in naira.
In a statement made on Thursday at the Eko Hotel in Lagos, Dangote said that the company is collaborating closely with the Securities and Exchange Commission and the NGX to complete the framework before the IPO.
Dangote described the strategy as a hedge against currency volatility for Nigerian investors, saying, “You buy in naira, but you get dividends in dollars.” He clarified that $6.4 billion in anticipated proceeds from petrochemical exports will finance the dollar-denominated payouts., particularly polypropylene and fertiliser.
The plan is part of a broader growth strategy for the Dangote Group, which aims to increase revenues from $18 billion currently to $100 billion by 2030, potentially positioning the conglomerate among the world’s top 100 companies and targeting a market capitalisation above $200 billion.
Dangote highlighted the company’s financial performance over the past five years, noting that revenues have climbed from $3.3 billion to $18 billion, while earnings before interest, tax, depreciation, and amortisation rose from $1.8 billion to $2.8 billion.
The industrialist confirmed that a 10 per cent stake in the refinery and petrochemicals complex will be offered to the public through the NGX, adding that while international secondary listings are possible, the Nigerian market remains the priority.
