DANGOTE REJECTS ‘RICHEST MAN IN AFRICA’ TITLE, PREFERS ‘WEALTHIEST MAN’

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By:Aminat Tajudeen

President of Dangote Industries Limited, Aliko Dangote, has said he would prefer to be described as the “wealthiest man in Africa” rather than the “richest man in Africa,” saying his goal is to create wealth for others.

Dangote made the remarks on Monday while sounding the gong at the Nigerian Exchange (NGX) in Lagos to formally launch the Initial Public Offering of Dangote Petroleum Refinery and Petrochemicals.

“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 business mogul said the IPO provides investors with an opportunity to participate in what he described as a transformational phase 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, but Africa’s economy,” Dangote said.

He urged Nigerians to support the development of the capital market and promote broader 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 added.

Dangote also reflected on the sacrifices he had made throughout his entrepreneurial journey, particularly the years spent away from his family while building his business empire.

He expressed appreciation to his three daughters, Mariya, Halima and Fatima, for their understanding and support, acknowledging that his business commitments had deprived him of valuable family time.

The Dangote Refinery IPO, which opened on Monday, September 14, 2026, comprises 4.1 billion new ordinary shares priced 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 launch ceremony at the NGX marked the first time a refinery has been offered on the Nigerian stock market in the Exchange’s 66-year history.