Aliko Dangote, President of the Dangote Group and Africa’s richest businessman, said the Nigerian National Petroleum Company Limited requested to increase its 7.25% stake in the Dangote Petroleum Refinery, but the offer was rejected. He explained in an interview with Nicolai Tangen that the refinery plans to go public so more Nigerians can own shares.

He added that the refinery supplied 3.18 billion litres of petrol in Q1 2026, while imports dropped sharply. Dangote also noted that NNPC originally had a 20% stake agreement but only paid for 7.25%, and said future investors in his businesses would receive dividends in dollars due to strong export earnings.