President of Dangote Industries Limited, Aliko Dangote, has explained why he no longer wants to be referred to as the richest man in Africa, saying he prefers a description that reflects his desire to create wealth for other people.
Dangote spoke on Monday while sounding the gong at the Nigerian Exchange (NGX) in Lagos to mark the formal launch of the Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals.
The businessman said he would rather be recognised for helping others build wealth than for his personal wealth.
‘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.
Dangote said the refinery’s IPO would give investors a chance to own part of the business and take part in what he sees as a new phase for Nigeria and the wider African economy.
Explaining the significance of the share offer, he said it was more than a transaction, as it would allow people to participate in the growth of the refinery and the economy.
‘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 also called for greater participation in the Nigerian capital market, saying wider ownership could help create more prosperity.
Dangote urged Nigerians to work towards strengthening the market and expanding opportunities for people to own assets and benefit from economic growth.
‘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.
The billionaire also reflected on the demands of building his business empire and the time he spent away from his family.
Dangote acknowledged his three daughters, Mariya, Halima and Fatima, for their understanding and support, noting that his business responsibilities had meant spending less time with them over the years.
The IPO opened on Monday, September 14, 2026, with 4.1 billion new ordinary shares of Dangote Petroleum Refinery and Petrochemicals offered at N525 per share.
Investors can subscribe for a minimum of 10 shares, valued at N5,250. The offer is expected to close on October 13, 2026, subject to the terms in the prospectus.