‘Not richest man in Africa’, Dangote reveals what he wants to be addressed as

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 known as the “wealthiest man” who creates wealth and opportunities for others.

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

The billionaire businessman said his focus was no longer simply on personal wealth but on creating prosperity that would benefit other Nigerians and Africans.

“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,” Dangote said.

Dangote refinery IPO opens

The Dangote Petroleum Refinery and Petrochemicals IPO, which opened on Monday, September 14, 2026, is offering 4.1 billion new ordinary shares 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 listing exercise marks a major development for Nigeria’s capital market, as the refinery becomes the first refinery to be offered on the Nigerian stock market in the Nigerian Exchange’s 66-year history.

Speaking at the ceremony held on the trading floor of the NGX in Lagos, Dangote described the public offer as an opportunity for investors to become part of what he called a transformational chapter for Nigeria and Africa.

“Today, we are not merely offering shares. We are offering an opportunity to participate in the transformational chapter of not only Nigeria’s economy, of Africa’s economy,” he said.

The businessman urged Nigerians to take greater advantage of the capital market and promote wider ownership of businesses and 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.

Family sacrifices

Dangote also reflected on the personal sacrifices he had made while building his business empire, particularly the years he spent away from his family because of his business commitments.

He acknowledged that his pursuit of business success had meant sacrificing significant family time over the years.

The billionaire thanked his three daughters, Mariya, Halima and Fatima, for their understanding and support throughout the period.

His remarks came as the Dangote refinery enters a new phase of ownership through the public offer, allowing investors to participate in the company through the Nigerian capital market.

The IPO launch brought together stakeholders in the financial and business sectors, with Dangote using the occasion to emphasise the importance of investment, ownership and wealth creation.

The Dangote refinery has also remained a major part of the businessman’s industrial expansion, with the IPO providing an opportunity for investors to acquire shares in Dangote Petroleum Refinery and Petrochemicals.

The offer will remain open until October 13, 2026, unless otherwise determined in accordance with the conditions contained in the prospectus.