NEWS
DPRP to Favour Small Investors in Event of IPO Oversubscription
President and Chief Executive of Dangote Industries Limited, Aliko Dangote, has reaffirmed his commitment to making the ongoing Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals (DPRP) a truly “People’s IPO,” assuring retail and small investors that they will receive priority allocation should the offer become oversubscribed
Dangote said, the offer was deliberately structured to broaden ownership of one of Africa’s most strategic industrial assets and provide millions of Nigerians with an opportunity to participate directly in the refinery’s growth and future value creation. The IPO is designed to deepen financial inclusion and democratise wealth creation by opening ownership to a wider segment of society.
Dangote stated that one of the core objectives of the offer is to build one of the largest shareholder communities in Africa, with a target of attracting not less than 10 million investors from Nigeria and across the continent
Speaking on the public offer, Aliko Dangote said: “This is more than a capital-raising exercise. It is a historic opportunity to deepen financial inclusion, democratise wealth creation and enable ordinary Nigerians to become co-owners of a world-class industrial enterprise. From the beginning, our vision has been to create a genuine People’s IPO that allows millions of Nigerians to share directly in the success of this refinery.”
READ ALSO: Olaniwun Ajayi Weighs In on Dangote Refinery IPO
Dangote emphasised that while the Company welcomes participation from all categories of investors, allocation decisions in the event of oversubscription would be guided by the principle of broad-based ownership.
“If the offer is oversubscribed, retail and small investors will receive priority consideration. We are determined to ensure that ordinary Nigerians are not crowded out by large subscriptions. Our objective is not merely to raise capital, but to create millions of shareholders who can participate in the growth and prosperity of the Dangote Refinery. We want as many people as possible to own a stake in this national asset.”
According to Dangote, prioritising retail investors is consistent with his long-held belief that economic development should go hand in hand with widespread citizen participation and ownership.
“We believe prosperity should be shared by the many, not concentrated in the hands of a few. This refinery was built to transform Nigeria’s energy landscape, and we want millions of Nigerians to be part owners of that transformation.”
Dangote further noted that the IPO represents a significant step towards building an ownership economy in which civil servants, artisans, traders, professionals, cooperative societies, pension contributors, young entrepreneurs and Nigerians in the diaspora can participate directly in one of Africa’s most important industrial enterprises.
He added that the offer has been designed to be simple, transparent and technology-driven, with BVN-enabled subscription channels helping to remove traditional barriers that have historically limited participation in the capital market.
Expressing confidence in the success of the offer, Dangote said the IPO would not only deepen Nigeria’s capital market but also stand as a landmark example of inclusive wealth creation.
“Our ambition is clear. We want to build a shareholder base of at least 10 million investors and create one of the most widely owned companies in Africa. That is the essence of the People’s IPO. It reflects our conviction that every Nigerian should have the opportunity to participate in the value being created by this world-class refinery.”
NEWS
Shettima Arrives Maiduguri to Commission Hospital, Schools, 104 Housing Units
Vice President Kashim Shettima has arrived in Maiduguri, the Borno State capital, to commission the Kashim Ibrahim University Teaching Hospital, a student hostel, and 104 staff housing units at the institution.
Shettima’s arrival was disclosed by Stanley Nkwocha, in a post on X on Friday.
The Vice President was received at the Muhammadu Buhari International Airport in Maiduguri by Borno State Governor, Professor Babagana Umara Zulum; Deputy Governor, Alhaji Umar Usman Kadafur; and the All Progressives Congress (APC) governorship candidate in the state, Engr. Mustapha Gubio.
SEE ALSO: Subsidy Removal, FX Reforms Driving Fresh Oil Sector Investment – Shettima
Members of the National Assembly, the Borno State Executive Council, prominent political figures and other top government officials were also present to welcome him.
During the visit, Shettima is expected to commission the Kashim Ibrahim University Teaching Hospital, alongside a student hostel and 104 staff housing units at the institution.
He will also commission Yerwa Central Primary and Junior Secondary School in Maiduguri, as well as the Kashim Shettima Academy, established by his foundation to support children from less privileged backgrounds.
The Vice President has repeatedly emphasised that poverty should not prevent Nigerian children from accessing higher education.
He has also highlighted government initiatives, including the Nigerian Education Loan Fund (NELFUND), as avenues for students from disadvantaged backgrounds to pursue their educational aspirations.
NEWS
Lagos CP Warns Officers Against Extortion, Brutality Ahead of 2027 Elections
The Lagos State Commissioner of Police, Tijani Fatai, has warned officers against extortion, brutality, unlawful arrests and detention, stressing that any misconduct will attract disciplinary action.
Fatai gave the warning on Thursday, October 22, during a general lecture for officers and men of the Lagos State Police Command at the POWA Hall, GRA, Ikeja.
According to a press release signed by the Lagos State Police Command’s Public Relations Officer, SP Abimbola Adebisi, and released on Friday, October 23, the lecture was held in compliance with the directives of the Inspector-General of Police, Olatunji Rilwan Disu.
SEE MORE: Lagos Police Nab Educational Consultancy Staff Over Fake Visa Fraud
The lecture brought together area commanders, divisional police officers, tactical commanders, heads of departments and other personnel across the command to reinforce professionalism, discipline, accountability and respect for human rights.
Fatai reiterated the Inspector-General’s directives on addressing complaints against police personnel, particularly allegations of brutality, extortion, unlawful arrests and detention.
He warned that officers who engage in misconduct would face disciplinary action, adding that supervisory officers would also be held accountable for the actions of personnel under their command.
The commissioner specifically cautioned tactical teams against extortion, brutality, intimidation, incivility towards members of the public and other dishonest practices.
He directed tactical commanders to ensure that their personnel operate professionally, exercise restraint and respect citizens’ rights.
According to the commissioner, operational responsibilities must not be used as an excuse to exploit or harass members of the public.
Fatai also directed all personnel to comply strictly with the Nigeria Police Force’s Social Media Policy.
He warned that inappropriate online conduct capable of undermining the image of the police would attract sanctions for erring officers and their responsible supervisors.
Lagos CP Prohibits Arrest by Proxy
Addressing the fight against cultism, Fatai urged officers to intensify efforts to tackle the menace while ensuring that all arrests are conducted lawfully and in accordance with due process.
He prohibited arrest by proxy and the arrest of individuals without lawful justification.
The commissioner also emphasised the need to protect the lives and welfare of suspects in police custody, directing officers to maintain close supervision of detainees and ensure they receive humane treatment throughout their detention.
Police Told to Remain Neutral Ahead of 2027 Elections
Ahead of the 2027 general elections, Fatai charged officers to remain neutral and professional in the discharge of their duties.
He directed personnel to closely monitor electioneering campaigns and provide adequate security to maintain peace and public order.
The commissioner further urged officers to stay informed about local and international developments, strengthen their professional capacity and remain vigilant against emerging security threats that could affect Lagos State.
Fatai charged all officers and men of the command to uphold the highest standards of integrity, stressing that public trust must be earned through responsible conduct, impartial enforcement of the law and respect for the rights of every citizen.
NEWS
Why Ebola Outbreaks Keep Returning to Africa, Dr Jean Kaseya Explains
The Director-General of the Africa Centres for Disease Control and Prevention (Africa CDC), Dr Jean Kaseya, has explained why Ebola outbreaks continue to occur in Africa, citing the need for stronger health systems and surveillance mechanisms to prevent and control the spread of infectious diseases.
Kaseya spoke during an interview on Channels Television on Thursday, October 22, while discussing recurring Ebola outbreaks on the continent and the challenges facing public health authorities.
SEE ALSO: JUST IN: Over 3,000 Dead as Ebola Outbreak Ravages DR Congo
He explained that some outbreaks originate from animals and spread to humans through contact with the environment, stressing that effective surveillance and stronger healthcare systems were necessary to address the threat.
“We are in Africa in a specific environment. And as you are saying, this outbreak is coming also from animals to humans. It means we are in contact with our environment,” he said.
“But we can avoid that if we have a strong health system in place, if we have strong surveillance mechanisms in place. And this is what we are working to address.”
The Africa CDC chief also announced plans to convene African health ministers on October 28 to discuss the Ebola Bundibugyo outbreak, which he described as the most geographically widespread outbreak of its kind.
According to Kaseya, three African regions—West, Central and East Africa—have been affected, making coordinated action among countries increasingly important.
“This is why I’m calling even a meeting on the 28th of October of all African ministers, because we see now this outbreak — this Ebola Bundibugyo outbreak — is the most geographically extended outbreak, with three regions in Africa already affected: West, Central and Eastern African regions,” he said.
He also expressed confidence in Africa’s preparedness to respond to public health emergencies, while emphasising the importance of strengthening existing systems to contain outbreaks.
Africa CDC Seeks Cooperation Over Nigeria’s Reported Ebola Case
Kaseya further called for cooperation among Nigeria, Uganda and the Democratic Republic of the Congo (DRC) to clarify the travel history of a woman linked to Nigeria’s reported Ebola case.
He said he had been communicating with health authorities in the three countries to establish the woman’s movements before she returned to Abuja on October 3.
According to him, the woman was born in Uganda and had spent some time there before returning to Nigeria. However, further information was needed to establish whether she had travelled through the DRC or had contact with anyone arriving from the country.
“We are talking to all authorities—with Nigerian authorities, with Ugandan authorities, even to DRC authorities,” Kaseya said.
He urged the woman to provide the relevant information to health officials, noting that it would help authorities determine the circumstances surrounding the case and support the countries involved.
“What we want is collaboration from this person, the lady. She has to tell us, to disclose to the authorities. I need this information, as Nigeria needs this information, because we need also to support Uganda,” he said.
Kaseya added that establishing the woman’s travel history and possible contacts would help prevent misunderstandings between the African countries.
“I think these are the pieces of information we are looking for, and it will help all of us, and it will avoid crisis between African countries,” he added.





