𝐃𝐚𝐧𝐠𝐨𝐭𝐞 𝐭𝐨 𝐨𝐟𝐟𝐞𝐫 𝐝𝐨𝐥𝐥𝐚𝐫-𝐝𝐞𝐧𝐨𝐦𝐢𝐧𝐚𝐭𝐞𝐝 𝐝𝐢𝐯𝐢𝐝𝐞𝐧𝐝𝐬 𝐟𝐨𝐫 𝐫𝐞𝐟𝐢𝐧𝐞𝐫𝐲 𝐈𝐏𝐎

The President of the Dangote Group, Aliko Dangote, has announced plans to introduce a dividend model that will allow shareholders in the forthcoming Dangote Refinery IPO to receive their returns in US dollars even though the shares will be purchased in naira.

Dangote disclosed this on Thursday at Eko Hotel, Lagos, saying the company is working closely with the Nigerian Exchange (NGX) and the Securities and Exchange Commission to perfect the structure ahead of the refinery’s listing in 2026.

According to him, the dollar-denominated dividends are designed to protect investors from currency volatility. “You buy in naira, but you get dividends in dollars,” he said, adding that the payouts will be backed by an estimated $6.4 billion in annual export revenue from petrochemicals such as polypropylene and fertiliser.

He noted that the plan fits into the broader growth strategy of the Dangote Group, which aims to expand its revenue base from the current $18 billion to $100 billion before 2030. Achieving this target could place the conglomerate among the world’s top 100 companies, with a projected market capitalisation exceeding $200 billion.

Reviewing the company’s financial performance over the past five years, Dangote highlighted the rise in group revenue from $3.3 billion to $18 billion, while earnings before interest, tax, depreciation and amortisation grew from $1.8 billion to $2.8 billion within the same period.

Dangote also confirmed that 10% of the refinery and petrochemicals complex will be offered to the public through the NGX. While opportunities may arise for secondary listings abroad, he emphasised that the Nigerian market remains the primary focus.