Nigerian businessman and chairman of First HoldCo, Femi Otedola, is investing a $100 million in the Dangote Refinery.
He disclosed this when he led a delegation of top executives from First HoldCo on a visit to the Dangote refinery on Wednesday
The team also visited key project sites such as the jetty, a facility built by Dangote industries to receive large vessels.
The President of the Dangote Group, Aliko Dangote in October, 2025 announced that he would allow the public to invest up to 10% stake.
According to him, the refinery is targeting $2 billion from private investors ahead of the Initial Public Offering (IPO)..
Otedola said: “From a personal note, I’ve appealed to him (Aliko Dangote). I’ve been here with him 25 times, so my compensation is he’s going to allocate to me shares worth $100 million in the private placement.”
The philanthropist, Otedola once served as chairman of Forte Oil PLC, and former executive chairman of Geregu Power PLC.
Meanwhile, the actual date for the IPO is yet to be announced. It is, however, believed that the public listing could come up later this year.
