Aliko Dangote has announced plans to "very soon" list his multibillion-dollar oil refinery on the Nigerian Exchange, a move aimed at allowing Nigerians to purchase shares and participate in the country’s oil and gas sector, The Punch has reported.

Africa’s richest man made the announcement during the Global Commodity Insights Conference in Abuja, which was co-hosted by the Nigerian Midstream and Downstream Petroleum Regulatory Authority and S&P Global Insights. Dangote said that the listing would enhance domestic involvement in Nigeria’s energy infrastructure.

“Very soon, the refinery will be listed to give all Nigerians the opportunity to become shareholders. We are open to partnerships with African governments, private investors, and regional institutions. Our vision is simple but ambitious,” Dangote said.

He added that the long-term objective is for refining all petroleum products consumed on the continent within African borders.

The Dangote refinery, one of the largest in Africa, has faced criticism for using Angolan vessels rather than Nigerian-owned ships to transport crude oil and refined products. Some local marketers have also raised concerns that the facility’s sales strategy favours large-scale buyers, limiting access for smaller distributors.

The Depot and Petroleum Products Marketers Association of Nigeria has alleged that the Dangote Refinery’s distribution model excludes flexible coastal operators, a move it argues could sideline certain segments of the domestic supply chain.

Dangote has defended his approach, criticising wealthy Nigerians for not reinvesting in the local economy. He has called for collective efforts to bolster Nigeria’s industrial base and warned against the impact of market dumping, which he said had previously harmed domestic industries such as textiles.

He also outlined the refinery’s commitment to cleaner energy sources, noting that it currently produces 2,500 tonnes of liquefied petroleum gas daily. According to Dangote, this production capacity is part of a broader strategy to achieve energy sustainability.

“With our LPG production of 2,500 tonnes per day, we’re working to encourage more homes to increase the LPG consumption or utilisation, and we’re just getting started,” he said.