Aliko Dangote, the richest man in Africa, speaking about equity participation in the Dangote Oil Refinery said Nigerians will be able to purchase shares in the next two to three months.
Aliko Dangote revealed during a press tour of the facility in February that Nigerians will have the chance to directly invest in the Dangote Refinery within the next four to five months.
The head of Nairobi Securities Exchange Plc recently disclosed that Aliko Dangote plans to pursue a multiple-listing strategy, offering equity in his refinery across multiple African capital markets, despite the anticipation of potential investors regarding the listing. 
Dangote appointed Stanbic IBTC Capital Ltd., Vetiva Advisory Services Ltd., and FirstCap Ltd. to offer advice on the IPO for Dangote Petroleum Refinery and Petrochemicals FZE, according to an email from FirstCap CEO Ukandu that Bloomberg viewed.
“The plan is to structure a pan-African IPO,” Frank Mwiti, CEO of the Nairobi exchange, stated following a meeting last week between African exchange heads and billionaire Dangote in Lagos, Nigeria’s commercial capital. This type of multiple listing will mark a historic moment for the continent as the first of its kind in Africa.
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Such a move will help advance stock exchanges in Nigeria, which is presently in a position to rejoin the FTSE Russell frontier-markets benchmark, and in other participating nations where the refinery will list.
Aliko Dangote revealed plans to list his oil refinery on the stock market in July of last year in response to public criticism that the billionaire favoured international alliances.
“At the moment, our primary goal is to list on the exchange so that every living Nigerian can own a portion of the refinery,” he said. “Someone asked me if I wanted to sell 5 or 10 percent, and I said that when we sell the shares, we will not put a cap on it; if they buy 55% and I own 45%, that’s fine,” he said.
In an October interview with S&P Global, the CEO of the Dangote Group revealed plans to sell at least 5% of the Dangote Refinery on the Nigerian Exchange between then and the current year. “We don’t want to keep more than 65–70 percent. He stated that the company will offer shares incrementally, depending on investors and market depth
The Dangote Group constructed the $20 billion facility, and it can currently refine up to 650,000 barrels of crude oil every day.
The announcement coincided with his plan to expand his oil refining business to double, reaching a daily production capacity of 1.4 million barrels.
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