Why I don’t want to be called richest man in Africa — Dangote

LAGOS — President of Dangote Industries Limited, Aliko Dangote, has said he no longer wants to be described as the richest man in Africa, saying he would rather be recognised for creating wealth and opportunities for others.

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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.

“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 businessman said the IPO provided an opportunity for investors 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 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 spoke about the personal sacrifices he made while building his business empire, particularly the time he spent away from his family.

He acknowledged his three daughters, Mariya, Halima and Fatima, for their understanding and support, saying his business commitments had deprived him of significant family time over the 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.

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, 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.