President and Chief Executive, Dangote Group, Aliko Dangote, has said the planned listing of the Dangote Petroleum Refinery & Petrochemicals on the Nigerian Exchange is designed to democratise wealth creation and give Africans direct access to participate in the continent’s industrial transformation.
Dangote spoke during the visit of the leadership of South Africa’s Government Employees Pension Fund (GEPF), alongside the Public Investment Corporation and Alterra Capital Partners, to the Dangote Petroleum Refinery & Petrochemicals and Dangote Fertiliser Limited in Lagos.
The South African delegation included Chairperson of GEPF, Frans Baleni; Principal Executive Officer of GEPF, Musa Mabesa; Deputy Chairperson of PIC, Mongwena Maluleke; Chief Executive Officer of PIC, Patrick Dlamini; and Managing Partner of Alterra Capital Partners, Genevieve Sangudi.
The visit comes amid rising investor interest in Africa-led industrialisation and long-term infrastructure investments. GEPF is Africa’s largest defined benefit pension fund, managing the retirement and associated benefits of more than 1.8 million public sector workers in South Africa, while PIC is the continent’s largest asset manager.
Speaking on the planned refinery listing, Dangote said Africa’s next phase of economic growth must be anchored on large-scale industrial projects capable of creating jobs, strengthening domestic production capacity, and generating broad-based prosperity. “We are opening the doors for investors to participate directly in Africa’s industrial future and the prosperity it will create,” Dangote said.
According to him, the refinery project reflects the scale of untapped opportunities within Africa’s energy market, particularly as most African countries remain dependent on imported refined petroleum products despite growing industrial demand and rising consumption.
Dangote said the Group’s long-term investment strategy is driven by Africa’s expanding energy needs and the urgent requirement for regional refining capacity capable of serving multiple markets across the continent. The billionaire industrialist noted that demand for products such as polypropylene, aviation fuel, and refined petroleum products has exceeded earlier projections, reinforcing the commercial viability of the refinery and shaping future expansion plans.
“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. Speaking after the tour of the Dangote facilities in Ibeju-Lekki, the Chairperson of GEPF, Frans Baleni, said that the refinery stands as evidence that Africa can execute transformational infrastructure projects when backed by visionary leadership, long-term investment, and strong technical expertise.