Chairman of Dangote Petroleum Refinery, Aliko Dangote, has revealed plans to list between five and 10 per cent of the refinery’s shares on the Nigerian Exchange (NGX) within the next year. In an interview with S&P Global, Dangote explained that the move aligns with the approach taken by other Dangote Group companies already listed on the stock market, including Dangote Cement and Dangote Sugar Refinery. “We don’t want to keep more than 65%-70%,” Dangote said, adding that the refinery shares would be offered gradually, depending on investor demand and market conditions. Dangote also revealed that the group is exploring strategic partnerships with investors from the Middle East to fund the refinery’s expansion and support a new petrochemicals project in China. He stated: “Our business concept is going to change. Now, instead of being 100 percent Dangote-owned, we’ll have other partners.” Dangote also hinted at a possible increase in the Nigerian National Petroleum Company (NNPC) Limited’s stake in the refinery. The national oil company had earlier reduced its ownership to 7.2 percent, but Dangote said further discussions could take place once the refinery’s next growth phase begins. Refering to the NNPCL’s stake, he said, “I want to demonstrate what this refinery can do, then we can sit down and talk”. The refinery which began operations in 2024, plans to ramp up its capacity from 650,000 barrels per day (bpd) to 700,000 bpd by the end of this year.