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The President and CEO of Dangote Industries Limited, Alhaji Aliko Dangote, has revealed that the Dangote Petroleum Refinery is scheduled to be listed on the Nigerian Stock Exchange by the end of March 2025.
This is just as the refinery has postponed the supply of petrol to August next month, after initially targeting July.
Dangote explained that the refinery had resolved its crude oil supply issues with the help of the Nigerian National Petroleum Company Limited and the Federal Government.
During a tour of the refinery and Dangote Fertilizer plants in Ibeji-Lekki, Lagos, he announced plans to list the refinery and petrochemical before the end of the first quarter of next year.
Dangote also clarified that the Federal Government only holds a 7.2% stake in the Dangote Refinery, contrary to the previously publicised 20%.
Recall that the Vice President of Oil and Gas at Dangote Industries Limited, Devakumar Edwin, had earlier accused international oil companies of deliberately frustrating the refinery's efforts to purchase local crude.
He stated that the IOCs were inflating the cost of local crude by $6 above market price, forcing the refinery to import from countries such as the US at higher costs.
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