Dangote Still Owns 84.34% control of Refinery after planned N2.15 trillion IPO

Alhaji Aliko Dangote is still owner of Dangote Refinery, despite N2.15 trillion planned share sale in what is widely considered to be Africa’s biggest share sale, Aliko Dangote’s beneficial ownership of Dangote Petroleum Refinery & Petrochemicals FZE (DPRP) will stand at 84.34%, not the 65.8% suggested by his largest single shareholding vehicle.

Nairametrics analysis of the company’s prospectus for the Initial Public Offering (IPO) dated September 7, 2026, shows that Dangote’s economic control of the company is spread across four separate corporate vehicles rather than concentrated in one.

These include: DORCL, DIL and Greenview, which appear as three separate entities on the share register, but the prospectus indicates that they should be viewed as a single economic interest under Aliko Dangote.

. nairametrics