Aliko Dangote has officially sounded the gong at the Nigerian Exchange as the Dangote Refinery IPO goes live - the first refinery ever offered on the Nigerian stock market in the NGX's 66-year history. Speaking at the launch in Lagos, Dangote described the offering as a 'people's IPO', saying the group wants Nigerians to participate in the prosperity created by the company. He also made a much bigger promise: 'We, as a group, will list every single company that we operate.'
Then came an even more ambitious target: by 2030, the market value of his group should be at least $350 billion, assuming a 10-times price-to-earnings ratio. He predicted the refinery could become the largest company in Africa by the end of this year, telling investors to look beyond revenue and focus on profitability and future potential. Another major revelation: the company plans to expand into the United States within the next three years and eventually join the American stock market, and aims to supply up to 10% of total US oil imports.
Dangote is no longer talking about the refinery simply as a Nigerian industrial project - he is talking about building companies that can compete for capital on the global stage. Video: WATCH: Dangote's BIG Warning To Investors - Reveals His $350B Refinery's Plan (youtube.com/watch?v=nspXLMToA8o). Disclaimer: This post is for informational and educational purposes only, not investment advice; conduct your own research.
