Dangote responds to viral shareholder jokes, sets fertiliser IPO for 2028

WAfrica’s richest man, Aliko Dangote, has confirmed plans to list Dangote Fertiliser on the stock market in 2028 as his refinery’s public offering attracts Nigerian retail investors.

According to PUNCH, Dangote disclosed the timeline during an interview at the Qatar Economic Forum, saying the fertiliser business would become listed.

Dangote also joked about viral social media posts from Nigerians who recently bought shares in Dangote Petroleum Refinery and began portraying themselves as co-owners and executives demanding a board meeting.

Dangote Fertiliser operates a $2.5 billion plant in Ibeju-Lekki, Lagos, with annual capacity of about three million tonnes of urea.

The group plans to expand fertiliser production to about 12 million tonnes annually by 2028, including expansion in Nigeria and Ethiopia.