Africa’s richest man and President of Dangote Group, Aliko Dangote, has confirmed that the group plans to take its fertiliser business to the stock market in 2028.
Dangote disclosed this during an interview at the Qatar Economic Forum, where he also joked about the wave of social media posts from Nigerians who recently bought shares in the Dangote Petroleum Refinery.
The billionaire businessman laughed about the online trend in which new retail investors portray themselves as part-owners of the refinery, with some jokingly demanding that a board meeting should be convened.
The social media frenzy followed the launch of the Dangote Petroleum Refinery’s initial public offering, which opened to investors in September.
The refinery’s public offer has attracted considerable attention from individual investors, with Nigerians using memes and humorous posts to celebrate becoming shareholders.
Dangote said the growing number of investors would allow more people to become partners in the group’s businesses.
He also confirmed that Dangote Fertiliser would be listed, adding that the company was working
towards significantly expanding its production capacity.“We will IPO it. It’s going to be the biggest fertiliser company on earth,” Dangote said, giving 2028 as the expected year for the listing.
Dangote Fertiliser currently operates a $2.5 billion fertiliser complex in Ibeju-Lekki, Lagos, with an annual production capacity of about three million metric tonnes of urea.
The Dangote Group has previously outlined plans to raise fertiliser production capacity substantially by 2028, with expansion plans covering its Nigerian operations and a proposed project in Ethiopia.
The group’s investor relations platform also lists Dangote Fertiliser among its businesses that may participate in future capital market activities.
The proposed fertiliser IPO would come after the ongoing public offering of Dangote Petroleum Refinery, which commenced on September 14, 2026. The refinery offer comprises 4.1 billion ordinary shares at ₦525 per share, with a minimum subscription of 10 shares.
The 2028 timeline therefore gives investors and the wider business community a clearer indication of when Dangote’s fertiliser business could join the capital market.
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