Aliko Dangote has announced plans to take the Dangote Group’s fertiliser business public through an Initial Public Offering (IPO) in 2028, as part of a broader strategy to expand public ownership of major African industrial assets.
Dangote disclosed the plan during an interview with Bloomberg Television, where he said the proposed fertiliser listing would build on the strategy already outlined for the Dangote Petroleum Refinery.
According to the businessman, the planned IPO is not solely aimed at raising capital but is also intended to give millions of Africans an opportunity to own shares in major businesses operating in strategic sectors of the economy.
Dangote said the objective is to broaden participation in the ownership of transformative African assets, allowing more people to benefit from the growth of businesses with significant economic importance.
He also expressed his ambition for the fertiliser business to become the largest fertiliser company in the world, highlighting the scale of the company’s expansion plans.
The proposed listing comes as Dangote continues to position the group’s industrial investments as part of a wider drive to strengthen local production and reduce Africa’s dependence on imported products.
Speaking about the Dangote Refinery, he reiterated that the project was conceived as an African response to the continent’s reliance on imported petroleum products. He said the refinery forms part of a broader industrialisation strategy focused on increasing domestic production, creating employment, generating foreign exchange and supporting greater economic self-sufficiency.
Dangote argued that Africa has the natural resources, human capital and market potential required to compete more effectively in the global economy. However, he said the continent needs to process more of its raw materials locally and retain a larger share of the value generated from its resources.
According to him, developing local industries would enable African countries to capture more economic value while creating opportunities for businesses and workers within the continent.
The planned fertiliser IPO would add to the group’s broader capital market strategy and follows its intention to expand public participation in some of its major businesses.
If implemented in 2028 as announced, the listing would provide investors with an opportunity to acquire shares in the fertiliser business while potentially broadening the ownership base of one of the group’s key industrial operations.
The announcement also comes amid growing attention on the Dangote Group’s expansion across energy, manufacturing and agriculture, with the fertiliser business playing a significant role in the company’s industrial portfolio.
