Aliko Dangote, President of Dangote Group, has confirmed that the group plans to take its fertilizer business public in 2028.
Dangote disclosed this during an interview at the Qatar Economic Forum on Sunday, while discussing plans to bring more investors into his businesses.
He also joked about the viral social media posts by Nigerians who recently subscribed to the Dangote Petroleum Refinery’s ongoing initial public offering (IPO).
“You must have seen that they’ve been calling me now for a board meeting,” Dangote said, referring to memes portraying new retail investors as refinery executives and co-owners.
The refinery’s IPO, which opened on September 14, allows investors to subscribe for a minimum of 10 shares at ₦525 each. The offer has triggered a wave of humorous posts, with some investors jokingly demanding updates and board meetings.
On the fertilizer business, Dangote confirmed plans for a public listing when asked whether it would also be floated.
“Oh, yeah, yeah. I mean, we will IPO it. It’s going to be the biggest fertilizer company on earth,” he said.
Asked about the timeline, he replied, “Yes, it will be 2028.”
Dangote Fertilizer currently operates a $2.5 billion plant in Ibeju-Lekki, Lagos, with an annual urea production capacity of about three million tonnes. The group has outlined plans to raise its total fertilizer production capacity to about 12 million tonnes annually by 2028, including expansion in Nigeria and a proposed plant in Ethiopia.
The planned listing would follow the ongoing public offer for the Dangote Petroleum Refinery, which is seeking to raise about ₦2.15 trillion from investors.
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