The President and Chief Executive of Dangote Group, Aliko Dangote, has said the planned listing of the Dangote Petroleum Refinery & Petrochemicals on the Nigerian Exchange is aimed at broadening African participation in the continent’s industrial growth and wealth creation.

Dangote made the remarks during a visit by senior executives from South Africa’s Government Employees Pension Fund (GEPF), the Public Investment Corporation (PIC), and Alterra Capital Partners to the refinery and the Dangote Fertiliser Limited complex in Lagos.

The visit highlights growing investor interest in Africa-led industrialisation projects and long-term infrastructure assets as global and regional institutions increasingly seek exposure to strategic sectors including energy, logistics, petrochemicals and manufacturing.

According to Dangote, the refinery listing is intended to allow African investors, including pension and institutional funds, to directly participate in one of the continent’s largest industrial projects.

“We are opening the doors for investors to participate directly in Africa’s industrial future and the prosperity it will create,” Dangote said.

He added that Africa’s next phase of economic expansion would depend heavily on large-scale industrial investments capable of creating jobs, strengthening local manufacturing capacity and reducing dependence on imports.

The billionaire industrialist noted that demand for refined petroleum products, aviation fuel and petrochemical products such as polypropylene had exceeded initial projections, underlining the commercial viability of the refinery project.

“We thought about Nigeria first and then exports, but even with our current production, we are practically living hand to mouth because the market demand is extremely high,” he said.

The Government Employees Pension Fund is Africa’s largest defined-benefit pension fund, serving more than 1.8 million South African public-sector workers, while the Public Investment Corporation manages approximately $230 billion in assets.

Speaking after touring the refinery complex in Ibeju-Lekki, GEPF Chairperson Frans Baleni described the project as evidence that Africa can execute world-class industrial infrastructure at scale.

“What has been built here is reshaping how the world should think about African industrial capability,” Baleni said, adding that institutional investors across the continent should support similar African-led industrial projects.

PIC Chief Executive Officer Patrick Dlamini said the refinery represented one of Africa’s most transformative industrial developments and aligned closely with the fund manager’s strategy of deploying long-term capital into infrastructure and industrialisation projects across the continent.

“There is real strategic alignment between Dangote’s industrial agenda and how we are positioning our portfolio,” Dlamini said.

Dangote Begins Preliminary Work on Olokola Deep Seaport

6

Separately, Dangote Industries Limited has commenced preliminary activities for the proposed Olokola Deep Seaport project, a major maritime and industrial infrastructure development planned within the Olokola Free Trade Zone.

The multi-billion-dollar project spans more than 10,000 hectares across Ogun and Ondo states along the Gulf of Guinea coastline and forms part of the company’s “Vision 2030” expansion strategy.

According to the company, the deep seaport is designed to strengthen export logistics, industrial supply chains and regional trade connectivity, while supporting exports of fertilisers, petrochemicals and refined petroleum products.

Leading the company’s engagement team, Managing Director of Infrastructure and Logistics at Dangote Industries, Capt. Jamil Abubakar, described the proposed port as a strategic gateway capable of boosting Nigeria’s export competitiveness and reducing pressure on existing ports.

“The Olokola Port project is a major step in opening up Nigeria’s economic potential, strengthening trade, reducing pressure on existing ports and supporting industrial growth,” he said.

The project is also expected to support future liquefied natural gas exports and facilitate the importation of industrial equipment and raw materials.

Dangote officials,