Dangote Petroleum Refinery and Petrochemicals has reaffirmed that investors in its initial public offering can expect dividends denominated in United States dollars. The company stated that rising export earnings will support the dividend structure.
The refinery projects approximately $6.4 billion in annual export revenues, primarily from petrochemical products including polypropylene and fertiliser. These hard-currency inflows form the basis for the planned dollar dividend payments. Shareholders will purchase shares in naira on the Nigerian Exchange, while dividends are intended to be paid in dollars.
Aliko Dangote, President of the Dangote Group, previously stated: “You buy in naira, but you get dividends in dollars.” The company is working with the Nigerian Exchange and the Securities and Exchange Commission to finalise the regulatory framework for this structure.
The IPO involves the offer of a stake in the operational refinery and petrochemicals complex. Management highlighted that the listing occurs after the completion of construction and the commencement of commercial operations. As a result, the offering does not carry the construction-stage risks associated with the earlier development phase of the facility.
The refinery has been producing and exporting products, with export earnings providing a foundation for shareholder returns. The public offer forms part of the Group’s broader capital-market strategy and long-term growth plans.