Dangote has confirmed 2028 IPO for Fertiliser business as new refinery shareholders demand board meeting.
NewsOnline Nigeria reports that Africa’s richest man and founder of the Dangote Group, Aliko Dangote, has confirmed that the group plans to take its fertiliser business public in 2028, while jokingly acknowledging viral calls by new shareholders in the Dangote Petroleum Refinery for a “board meeting.”
Dangote made the disclosure during an interview at the Qatar Economic Forum on Sunday, where he discussed the ownership structure of his businesses and plans to bring more investors into the group.
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Speaking about the prospect of having more shareholders, Dangote said the group had traditionally operated without partners but was now seeking to bring a large number of investors into its businesses.
“You must have seen that they’ve been calling me now for a board meeting,” Dangote said, referring to the wave of social media posts by Nigerians who recently bought shares in the Dangote Petroleum Refinery.
The comments come amid the ongoing initial public offering of the refinery, which has been marketed as a “people’s IPO.” Some retail investors have taken to social media to humorously portray themselves as co-owners and newly appointed executives of the refinery.
Some have shared certificates bearing their photographs and titles such as “chief investment officer” and “co-founder and partner,” while others have joked about monitoring the refinery’s operations and holding virtual meetings with Dangote.
The “board meeting” joke has subsequently become a recurring theme in online conversations surrounding the refinery’s share offer.
Dangote confirms fertiliser IPO for 2028
Asked about plans to take the Dangote fertiliser business public, the billionaire confirmed that an IPO was planned and gave 2028 as the timeline.
“Oh, yeah, yeah. I mean, we will IPO it. It’s going to be the biggest fertilizer company on earth,” Dangote said.
Pressed on when the listing would take place, he replied: “It will be 2028.”
The disclosure provides a fresh timeline from Dangote for the planned public listing of the fertiliser business.
Dangote Fertiliser operates a $2.5 billion urea production complex in Ibeju-Lekki, Lagos, with current production capacity of about three million tonnes annually. The company has outlined plans to expand production substantially, with a target of reaching about 12 million tonnes per year as part of its wider expansion programme.
The group has also been pursuing expansion beyond Nigeria, including plans connected to fertiliser production in Ethiopia, as it seeks to increase its presence in the global fertiliser market.
In January 2026, Dangote Industries appointed MTN Group CEO Ralph Mupita to the board of Dangote Fertiliser as the company prepared for expansion and a planned listing, underscoring the group’s focus on capital-market opportunities for the business.
Dangote has previously said the expansion would increase the group’s urea production capacity and position its fertiliser operations among the world’s largest producers.
The fertiliser IPO plans come as the Dangote Petroleum Refinery’s share offer continues to attract significant attention from Nigerian retail investors, opening ownership of the major industrial asset to members of the public.
