DANGOTE REFINERY IPO ATTRACTS INVESTORS FROM 120 COUNTRIES , AlLL 54 AFRICAN NATIONS

Landmark offering achieves full African participation and reaches investors across all six inhabited continents

The Dangote Petroleum Refinery and Petrochemicals has concluded its landmark Initial Public Offering (IPO), attracting investor applications from 120 countries across all six inhabited continents, including all 54 African nations.

The achievement marks a significant milestone for African industrial development and capital markets, demonstrating the potential to expand investment opportunities and encourage broader ownership of strategic African businesses.

Described as The People's IPO, the offering goes beyond conventional fundraising by opening up participation in one of Africa's largest industrial projects to a wider pool of investors. Its extensive distribution network brought together commercial banks, stockbroking firms, fintech platforms and other capital market institutions to facilitate access to the offer.

Dangote: Africans Must Own the Industries They Build

President and Chief Executive of Dangote Industries Limited, Aliko Dangote, described the outcome as a strong demonstration of African confidence and the continent's capacity to mobilise its resources for development.

According to Dangote, the participation of investors from every African country shows that Africans want more than access to locally produced goods; they also want to invest in, own and benefit from the industries driving the continent's economic growth.

He explained that the IPO was designed not only to raise capital but also to broaden ownership and create opportunities for ordinary Africans to participate in an enterprise of global significance.

Dangote added that the company's long-term ambition extends beyond building successful businesses to supporting a more prosperous and economically self-reliant Africa.

As the Group advances its expansion programme and Vision 2030 strategy, he said it remains committed to improving operational performance, strengthening Africa's energy security and delivering value to investors.

International Investors Express Confidence in the Refinery

Managing Director and Chief Executive Officer of Dangote Petroleum Refinery and Petrochemicals, David Bird, said the international response reflected confidence in the refinery's industrial scale, operational capabilities and long-term growth prospects.

He described the participation of investors from 120 countries as a major milestone, particularly given the offer's reach across every African nation and all six inhabited continents.

Bird said the company's focus remains on operational excellence, sustainable growth and creating long-term shareholder value.

IPO Offered 4.1 Billion Shares at ₦525 Each

The IPO opened on September 14, 2026, offering 4.1 billion ordinary shares at ₦525 per share, representing a proposed capital raise of approximately ₦2.15 trillion.

Initially scheduled to close on October 13, the offer was extended to October 27 following approval by the Securities and Exchange Commission, giving investors additional time to participate.

The extension reflected the company's stated objective of widening ownership and reaching investors across African and international markets.

A New Chapter for African Capital Markets

Group Chief Financial Officer of Dangote Industries Limited, Murat Erden, said the IPO could serve as a model for expanding investment participation and strengthening connections across African capital markets.

He highlighted the role of banks, stockbrokers, fintech companies and digital distribution channels in connecting investors across national borders.

Erden also pointed to the refinery's reported revenue of US$22.5 billion and EBITDA of US$5.52 billion in the first nine months of 2026, describing its industrial scale and financial performance as important foundations for future growth.

He said the broader significance of the offering lies in its potential to encourage more Africans to invest in major businesses operating on the continent.

Boosting Africa's Energy Security

Located in Lagos, the Dangote Petroleum Refinery represents one of Africa's largest private industrial investments. Its operations are aimed at expanding domestic refining and petrochemical production, reducing dependence on imported refined petroleum products and strengthening energy supply across the continent.

The successful conclusion of the IPO comes as the company pursues plans to expand its refining and petrochemical operations and strengthen its distribution network.

With applications reportedly received from all 54 African countries, the offering highlights the potential for greater cross-border investment and wider public participation in Africa's industrial transformation.#

CICAN TARGETS NIGERIA’S TAX AND ESG CHALLENGES AT 2026 WORKSHOP

 

LAGOS — The Commerce and Industry Correspondents Association of Nigeria (CICAN) is set to convene government officials, manufacturers, business leaders, regulators and other key stakeholders for a high-level discussion on Nigeria’s changing business environment, with particular focus on tax reforms and mandatory Environmental, Social and Governance (ESG) requirements.

The CICAN 2026 Workshop and Awards, scheduled for Thursday, November 19, 2026, at Protea Hotel, Alausa, Ikeja, Lagos, will focus on the theme:

“Fate of Nigerian Manufacturers in the New Tax Regime and Implications of the Mandatory Environmental, Social and Governance (ESG) on Nigeria’s Business Climate of the 2030 Deadline.”

According to a statement signed by the CICAN National Chairman, Comrade Taiwo Hassan, and Secretary-General, Comrade Femi Orioye, the workshop is designed to provide a platform for stakeholders to examine the implications of Nigeria’s evolving tax framework and the increasing emphasis on sustainable and responsible business practices.

Tax Reforms, ESG and the Manufacturing Sector

The event comes at a time when businesses, particularly manufacturers, are navigating changes in taxation alongside rising expectations around environmental sustainability, social responsibility and corporate governance.

Discussions at the workshop are expected to examine how these developments could affect the cost of doing business, competitiveness, investment decisions and the long-term sustainability of Nigerian enterprises.

The forum will also explore practical ways businesses can adapt to the changing regulatory environment while remaining competitive in both domestic and international markets.

High-Level Speakers and Stakeholders

The Executive Chairman of the Nigeria Revenue Service, Dr Zacch Adedeji, is expected to serve as the lead guest speaker, while the Director-General of the Nigeria Employers’ Consultative Association (NECA), Adewale-Smatt Oyerinde, will deliver the keynote address.

The Minister of Trade, Industry and Investment, Dr Jumoke Oduwole, is listed as a special guest, alongside the Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs. Folashade Ambrose-Medebem.

Other expected guests include the Minister of Humanitarian Affairs and Poverty Reduction, Dr Bernard Doro; President of Dangote Group, Alhaji Aliko Dangote; Vice President of the Lagos Chamber of Commerce and Industry and Chief Executive Officer of FAE Group, Princess Layo Bakare-Okeowo; and the National President of NACCIMA, Engr. Dr Jani Ibrahim.

The workshop is being supported by organisations and institutions including the Organised Private Sector of Nigeria, Corporate Nigeria, PRCAN, Nigeria Revenue Service, Ministry of Humanitarian Affairs and Poverty Reduction, Dangote Group, Standards Organisation of Nigeria, UBA, FAE Limited and Coleman Wire & Cable, among others.

Preparing Businesses for a Changing Regulatory Environment

For CICAN, the choice of theme reflects growing concerns about the combined effect of taxation, regulatory requirements and the transition towards more sustainable business models.

The workshop is expected to encourage open discussions on how manufacturers and other businesses can manage these pressures while maintaining productivity, attracting investment and contributing to Nigeria’s economic growth.

Beyond identifying challenges, stakeholders are expected to examine opportunities within the emerging regulatory environment and consider strategies that can support business resilience and competitiveness.

CICAN 2026 Awards

The workshop will also feature an awards segment recognising individuals and institutions for their contributions to Nigeria’s commerce, industry and economic development.

Among those listed for special recognition are Alhaji Aliko Dangote, who is expected to be honoured as Father of the Day, and Princess Layo Bakare-Okeowo, who is listed as Mother of the Day.

CICAN National Chairman, Comrade Taiwo Hassan, will lead members of the association’s executive council and other stakeholders at the event.

The programme is scheduled to commence at 10:00 a.m. on November 19, 2026, with senior government officials, business leaders, manufacturers, regulators, media professionals and other stakeholders expected to participate.

As Nigeria’s business environment continues to evolve, the CICAN workshop is positioned as a forum for stakeholders to discuss the practical realities facing businesses and explore pathways for sustaining enterprise, investment and economic growth under the country’s emerging tax and ESG landscape.

LAGOS CATHOLIC ARCHBISHOP CHARGES NEW CLERICS TO BE ANCHORS OF HOPE,URGES NIGERIANS TO REJECT VOTER APATHY.

 Catholic Archbishop of Lagos, Most Rev. Alfred Adewale Martins.

The Catholic Archbishop of Lagos, Most Rev. Alfred Adewale Martins, has charged newly ordained priests and deacons to become “anchors of hope” in a world facing war, poverty, insecurity and social instability, while urging Nigerians to reject political apathy and actively participate in the democratic process.

Archbishop Martins gave the charge during the ordination of 20 new clerics—six priests and 14 deacons—at the Catholic Church of the Ascension, Ikeja, Lagos.

He said the ordination was taking place at a critical time when the world desperately needed messages of hope and peace, stressing that the new clerics had been called to serve as witnesses to the continuing presence and sovereignty of God amid the challenges confronting humanity.

Highlighting the situation in Nigeria, the Archbishop identified hunger, poverty, insecurity, kidnapping, banditry and homelessness as some of the major challenges diminishing hope among citizens.

He urged the newly ordained priests to embrace lives of prayer, sacrifice and obedience, and to carry their priestly identity with integrity while proclaiming the truth “in season and out of season.”

According to him, their ministry should not be driven by the pursuit of popularity, power, material comfort or public applause, but by fidelity to Christ and a commitment to bringing hope to a troubled society.

Archbishop Urges Nigerians to Vote

Speaking on the political situation in the country, Archbishop Martins urged Nigerians not to allow disappointment with past elections to discourage them from participating in the democratic process.

He warned that refusing to vote would amount to surrendering citizens’ power to determine who governs them.

With political activities gathering momentum ahead of forthcoming elections, the Archbishop called on Nigerians to critically examine the promises of political aspirants and make informed choices based on their consciences rather than material inducements.

He urged citizens to ask politicians  questions about their plans for managing the nation’s resources and to resist attempts to buy their votes with food, money and other inducements.

“Even if people choose not to vote, they lose their right to call whoever gets into power to account,” he said.

The Archbishop disclosed that the Church, through its Justice, Development and Peace Commission (JDPC), was positioning itself to contribute to efforts aimed at strengthening democracy and promoting free, fair and credible elections.

He encouraged Nigerians to see voting as both a civic responsibility and an opportunity to influence the direction of the country.

The Archbishop’s twin message to the newly ordained clerics and the wider Nigerian society was therefore a call to hope, service, responsibility and active citizenship—with the Church committed to producing ministers who will not only proclaim the Gospel but also contribute to building a more just, peaceful and responsible society.#

FG's $1 Trillion Economy Drive: NACCIMA to Deepen Nigeria-China Economic Partnership Through Business and Investment Forum 3.0.

 

As Nigeria intensifies efforts to build a $1 trillion economy by 2030, the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) is positioning itself at the forefront of attracting strategic foreign investments.

The chamber has announced the third edition of its Business and Investment Forum, a flagship initiative aimed at strengthening economic cooperation between Nigeria and China while attracting sustainable investments that support President Bola Ahmed Tinubu's Renewed Hope Agenda.

The announcement was made by NACCIMA's National Public Relations Officer, Madinat Adigun-Oladotun, who revealed that the forum will take place in Guangzhou, China, alongside the 140th Canton Fair, one of the world's largest and most influential international trade exhibitions.

Connecting Nigeria with Global Investors

According to Adigun-Oladotun, the forum is designed to connect Nigeria directly with leading Chinese investors, manufacturers, industrialists and business executives across multiple sectors of the economy.

She explained that the initiative seeks to unlock new investment opportunities, encourage industrial development, and stimulate sustainable economic growth.

"The Business and Investment Forum is a strategic platform to attract valuable and sustainable economic opportunities that will accelerate the actualisation of President Bola Ahmed Tinubu's vision of building a one trillion-dollar economy by 2030," she said.

Beyond a Consumer Economy

Adigun-Oladotun stressed that Nigeria must reposition itself beyond being a consumer market and become a preferred destination for investment, manufacturing, value addition and industrial production.

She noted that Nigeria possesses the population, abundant natural resources, entrepreneurial talent and strategic geographical advantage needed to serve as the gateway to Africa's expanding market.

According to her, achieving this vision will require deliberate investments in infrastructure, improved access to finance, modern technology, innovation and stronger international partnerships capable of driving industrialisation.

Building Stronger Nigeria-China Partnerships

She explained that NACCIMA established the Business and Investment Forum in Guangzhou to create lasting relationships between Nigerian businesses and credible Chinese investors committed to mutually beneficial partnerships.

Reflecting on the success of the previous two editions, Adigun-Oladotun said the initiative has already laid a strong foundation for long-term collaboration with members of the China Chamber of International Commerce (CCOIC), Guangzhou, with the support of the Consul General of Nigeria in Guangzhou, Ambassador Mairo Musa Abbas.

She disclosed that these collaborations are already opening investment opportunities in key sectors such as:

• Automobile and electric vehicle manufacturing
• Agribusiness
• Renewable energy
• Pharmaceuticals
• Industrial park development
• Other strategic industries

Call for Active Participation

NACCIMA has called on state governors, federal ministries, agencies, local governments and private sector organisations to participate actively in the trade mission.

The association believes the forum presents an opportunity to attract quality investments, facilitate technology transfer, strengthen local manufacturing, promote skills development and generate sustainable employment.

Adigun-Oladotun particularly encouraged state governments to showcase their investment potential by registering for the forum and engaging directly with credible Chinese investors.

She urged them to collaborate with NACCIMA and the organised private sector to secure partnerships aligned with their respective comparative economic advantages.

A Platform for Nigeria's Industrial Future

Describing Guangzhou as one of the world's foremost commercial and manufacturing hubs and home to the globally renowned Canton Fair, Adigun-Oladotun encouraged Nigerian businesses and investors to take advantage of the trade mission.

She expressed confidence that the Business and Investment Forum 3.0 would create strategic partnerships capable of accelerating Nigeria's industrial transformation, expanding foreign direct investment, and supporting the country's ambition of becoming a one trillion-dollar economy by 2030.#

FG's Renewed Hope Skills Programme Equips Nigerians for Self-Reliance

The Federal Government's Renewed Hope Vocational and Skills Training Programme is gaining momentum across Nigeria, as thousands of participants undergo intensive practical training aimed at equipping them with employable skills, promoting entrepreneurship, and reducing poverty through sustainable livelihoods.

Implemented by the National Social Investment Programme Agency (NSIPA) under the supervision of the Federal Ministry of Humanitarian Affairs and Poverty Reduction, the nationwide initiative is expected to benefit 18,510 Nigerians. The programme was officially flagged off by the Minister, Dr. Bernard M. Doro, as part of the Federal Government's commitment to empowering citizens through skills acquisition rather than short-term relief.

In a statement issued by the Minister's Senior Technical Adviser on Information Systems and Data Analysis, Dr. Abimbola Fasanu, the initiative was described as a significant milestone in Nigeria's poverty reduction strategy. According to the statement, the programme marks a shift from temporary interventions to sustainable economic empowerment by providing practical skills that enable beneficiaries to earn steady incomes, build resilient livelihoods, and become financially independent.

Speaking on the third day of the training at the Women Development Centre in Agege, Lagos, the Programme Coordinator and Centre Head, Mrs. Kemilat Opasaye, said the initiative reflects President Bola Ahmed Tinubu's Renewed Hope Agenda by equipping vulnerable Nigerians with practical skills for self-reliance.

She explained that participants are receiving hands-on training in a wide range of vocational trades, including tailoring, welding, carpentry, catering, baking, agro-processing, bead and jewellery making, as well as other income-generating skills. At the end of the two-week training, beneficiaries will receive trade-specific starter packs to help them launch their own businesses.

According to Mrs. Opasaye, the programme goes beyond teaching vocational skills. It is designed to create sustainable livelihoods, reduce unemployment, encourage entrepreneurship, and empower beneficiaries to become employers of labour.

"This initiative is about giving Nigerians the opportunity to acquire practical skills that will improve their lives and enable them to build sustainable sources of income," she said.

The programme aligns with the Ministry's broader vision of moving vulnerable Nigerians from dependence to economic self-reliance through sustainable empowerment initiatives. It also complements the Ministry's One Humanitarian–One Poverty Response System (OHOPRS), which integrates humanitarian assistance, social protection, skills development, and economic inclusion into a coordinated national framework for poverty reduction.

Facilitators at the Agege training centre praised the programme, describing it as a practical intervention that combines classroom learning with intensive hands-on experience to prepare participants for self-employment and long-term success.

Beneficiaries also expressed gratitude for the opportunity. Miss Uche Obinna, a participant in the baking class, said the training had given her the confidence to establish her own business. Similarly, Mrs. Adebisi Muhammed, a graduate undergoing tailoring training, described the programme as a pathway to financial independence through entrepreneurship.

The Renewed Hope Vocational and Skills Training Programme is being implemented simultaneously across the country as part of the Federal Government's drive to expand economic opportunities, create sustainable livelihoods, and lift more Nigerians out of poverty through skills development, enterprise support, and inclusive social protection.

As the programme continues to roll out nationwide, it represents another step towards building a more productive, self-reliant, and economically empowered Nigeria, where practical skills become the foundation for lasting prosperity.#

Tinubu, Governors, APC Leaders Storm Jos for Humanitarian Minister Bernard Doro's Daughter's Wedding

 

President Bola Tinubu, represented by the National Chairman of the All Progressives Congress (APC), Prof. Nentawe Yilwatda, led a distinguished gathering of political leaders, government officials, traditional rulers, clergy, and other dignitaries to Jos, Plateau State, for the wedding ceremony of Ichi Doro, daughter of the Minister of Humanitarian Affairs and Poverty Reduction, Dr. Bernard Doro.

The wedding between Ichi Doro and Fidelis Iliya was solemnised at ECWA Gospel Church 2, Jos, in a colourful ceremony that celebrated faith, family, and national unity.

The event drew high-profile guests from across Nigeria, including Plateau State Governor Caleb Mutfwang, former Governor Joshua Dariye, senators, members of the House of Representatives, deputy governors from Benue and Yobe States, members of the Federal Executive Council, APC leaders, traditional rulers, and senior officials of the Federal Ministry of Humanitarian Affairs and Poverty Reduction.

Tinubu Commends Doro's Commitment

Delivering President Tinubu's message, Prof. Yilwatda described Dr. Doro as a loyal, dependable, and dedicated member of the administration whose commitment to public service continues to make a positive impact on the lives of Nigerians.

He said the President appreciates the minister's efforts in driving programmes aimed at supporting vulnerable citizens and reducing poverty across the country.

Congratulating the newlyweds, Yilwatda urged them to build a marriage founded on love, mutual respect, patience, and faithfulness.

"The President celebrates with your family on this joyful occasion and wishes the couple a lifetime of peace, happiness, and fulfilment. May they emulate the virtues of dedication, integrity, and commitment that have distinguished Dr. Doro in both public and private life," he said.

Mutfwang Praises the Doro Family

Governor Caleb Mutfwang described Dr. Doro as a longstanding friend whose family is known for humility, compassion, and generosity.

According to the governor, the groom has become part of a respected family whose values will serve as a strong foundation for the new home.

"The groom is fortunate to become part of this family. I pray that God grants the couple a peaceful, fruitful, and enduring marriage," Mutfwang said.

Build Your Home on God, Cleric Advises

In his sermon, the officiating minister, Rev. Ayuba Asheshe, encouraged the couple to make God the centre of their marriage.

He emphasised that enduring marriages are built on trust, forgiveness, sincerity, sacrifice, and unwavering commitment, urging the couple to remain faithful, prayerful, and patient throughout their journey together.

Special prayers were offered for the couple, their families, and Nigeria, while hymns and choral renditions added beauty and reverence to the church service.

Celebration of Culture and Unity

The reception that followed featured colourful cultural displays, traditional dance performances, and musical entertainment showcasing the rich cultural heritage of Plateau State.

Beyond the celebration, the gathering provided an opportunity for political associates, friends, and well-wishers from across the country to honour the Doro and Iliya families, reflecting Dr. Doro's longstanding relationships across political, religious, and social circles.

An Emotional Father's Gratitude

Speaking during the reception, an emotional Dr. Bernard Doro expressed appreciation to everyone who travelled from different parts of Nigeria to celebrate with his family.

"I am overwhelmed by the calibre of personalities and the number of people who have come to celebrate with my family today. I sincerely appreciate every one of you for identifying with us on this special occasion," he said.

Describing the occasion as one of the happiest moments of his life, the minister thanked God for witnessing his daughter's wedding and prayed for divine guidance over the couple.

He also advised the newlyweds to make peace, understanding, patience, and mutual respect the pillars of their marriage.

The reception was chaired by APC's Gombe South Senatorial Candidate, Chief Jerry Joseph Damara.

Other notable guests included APC Plateau State Chairman Rufus Bature; Senators Diket Plang; federal lawmakers Yusuf Gagdi and Ishaya David Lalu; former Minister of Women Affairs Dame Pauline Tallen; Dalyop Fom; traditional rulers; and several other distinguished Nigerians.

The celebration ended on a joyous note as family, friends, and guests offered prayers and goodwill wishes for Ichi and Fidelis, expressing hope that their union would be blessed with enduring love, peace, and prosperity.#

Dangote Refinery Secures $2.5 Billion in Historic Equity Deal, Sets Stage for Major Expansion

 

Africa's Largest Publicly Disclosed Private Equity Placement Signals Strong Global Investor Confidence

Dangote Petroleum Refinery and Petrochemicals FZE (DPRP) has achieved a major financial milestone by successfully raising approximately $2.5 billion through a landmark private equity placement.

The transaction, widely regarded as Africa's largest publicly disclosed primary equity private placement, marks a new chapter in the company's growth journey and highlights strong investor confidence in the refinery's long-term vision, operational strength, and strategic importance.

A First for Dangote Refinery

This is the first time DPRP has raised equity from investors outside its original shareholder base. The successful capital raise underscores the refinery's emergence as one of Africa's most attractive energy and industrial investments.

The funds will be used to expand the refinery and petrochemical complex, strengthen the company's financial position, and provide greater flexibility to pursue future growth opportunities.

Global Investors Back Africa's Energy Future

The equity offering attracted strong participation from a broad mix of investors, including international and African institutional investors, sovereign-related investment vehicles, development finance institutions, strategic partners, and private investors.

Among the notable participants were the Africa Finance Corporation (AFC) and India Infra Buildco, an investment platform facilitated by the African Export-Import Bank (Afreximbank). Their participation reflects growing confidence in the refinery's long-term prospects and its role in transforming Africa's energy landscape.

Aliko Dangote: A Strategic Milestone

Commenting on the successful transaction, Aliko Dangote, President and Chief Executive of Dangote Industries Limited and Chairman of DPRP, described the equity placement as a defining moment for the company.

He said the transaction broadens and institutionalises the company's shareholder base while providing additional capital to complement existing cash flows and external financing.

Dangote also reaffirmed the company's commitment to expanding Africa's refining and petrochemical capacity, reducing reliance on imported petroleum products, and strengthening the continent's energy security.

Investor Confidence Reflects Operational Excellence

Managing Director and Chief Executive Officer of Dangote Petroleum Refinery & Petrochemicals, David Bird, said the overwhelming investor response demonstrates confidence in the company's operational performance and future growth.

According to him, the exceptional demand for the equity placement reflects DPRP's strong execution capability, operational excellence, and the confidence investors have in its leadership and long-term potential.

Positioned for Long-Term Growth

With the successful completion of the equity placement, Dangote Petroleum Refinery is well-positioned to accelerate its expansion plans while reinforcing Africa's drive towards energy independence through world-class refining and petrochemical production.

The strong investor response further strengthens confidence in the company's vision to deliver sustainable value for shareholders and contribute significantly to Africa's industrial and economic development.

DPRP also expressed appreciation to its professional advisers and strategic partners whose expertise and support were instrumental in the successful completion of the transaction.