Dangote Petroleum Refinery and Petrochemicals (DPRP) has denied reports suggesting it is planning an Initial Public Offering (IPO), describing the claims as unauthorised and misleading.
In a statement issued on Friday, the company said it had observed the circulation of “unofficial” and “unverified” information across media and social platforms regarding a potential share offering.
“Such reports do not originate from DPRP and should be treated with caution,” the company stated, adding that any official update on a potential transaction would be communicated strictly through its formal disclosure channels and appointed advisers, in line with regulatory requirements.
The clarification follows earlier remarks by Aliko Dangote, President of the Dangote Group, who had indicated that the refinery could eventually be listed on the stock market. He previously disclosed plans to sell a minority stake to attract investors, noting that the company aimed to retain between 65 and 70 per cent ownership, with shares to be offered incrementally based on market conditions.
Market speculation had also been fuelled by comments from stakeholders, including Umaru Kwairanga, Chairman of the Nigerian Exchange Group, who cited Dangote as suggesting the refinery would be listed.
However, DPRP has urged investors and the public to disregard speculation and rely solely on verified information issued by the company or its authorised representatives.
Reaffirming its commitment to transparency and corporate governance, the company emphasised that any future transaction would be formally announced through regulatory filings, authorised press releases, and coordinated communications.
It also stressed that the statement does not constitute an offer to sell or a solicitation to buy securities, noting that any such offering would be conducted strictly in accordance with applicable laws and regulatory standards.
