“It’s not that we want to raise money” – Dangote explains why ordinary people should buy refinery IPO shares

Africa’s richest man, Aliko Dangote, has responded after an interviewer questioned why he needs to raise money through an Initial Public Offering (IPO) when he has enough personal wealth to fund his projects.

During a recent interview with Al Jazeera, the interviewer pointed out that Dangote is the richest Black man in the world and questioned why he could not simply take money from his finances to fund the project instead of going public.

“You are the richest Black man in the world, not only on the continent. Why do you need that much money? You can dip into your finances, take some money, fund the project. Why the IPO, and why now?” he said.

Dangote, however, explained that the purpose of the IPO was not to raise money for the project, but to give ordinary people an opportunity to own part of the business.

He specifically mentioned workers and members of the public who may not ordinarily have access to large-scale investments, explaining that he wanted them to participate in the company’s growth.

“Okay, so let me tell you. The IPO we’re doing is not that we want to raise money. It is purely we want the poor people, people like my driver, my cook, your driver, your cook, yourself, your wife, and your kids, to have a piece of the action,” he added.

The exchange has attracted attention online, with social media users discussing Dangote’s response and the idea of ordinary Nigerians owning shares in the refinery.

Dangote’s comments come amid the ongoing public sale of shares in the Dangote Refinery through the IPO.

Watch the video below…

interviewer asked Dangote a question and he called him poor😭💔 pic.twitter.com/3W4viO13yn

— big kay🥷🏾✝️ (@big_kay007) September 24, 2026