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.”
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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.”
The Presidency has highlighted major development projects across Nigeria’s North Central region under President Bola Tinubu’s Renewed Hope Agenda, covering eight key sectors, including road infrastructure, power, agriculture, education, aviation and security.
Sunday Dare, Special Adviser to the President on Media and Public Communication and Presidential Spokesperson, disclosed this on Sunday, November 15, 2026, in a post on his X account.
According to Dare, the projects are designed to improve regional connectivity, expand economic opportunities, strengthen food security and promote development across communities in the region.
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He highlighted interventions spanning major road construction, renewable energy, agricultural support, educational development, security infrastructure and empowerment programmes.
In the road infrastructure sector, the listed projects include the Mararaban Jama’a–Pankshin–Langtang–Shendam–River Ibi corridor dual carriageway, Phase II rehabilitation of the Babban-Lamba–Sharan Road and construction of the Akwanga–Jos–Bauchi–Gombe–Biu–Maiduguri Superhighway.
Others include the construction of the 600-metre Akwanga Underpass, completion of the Lafia Bypass, reconstruction of the Bali–Serti–Gembu Road and construction of the Gembu–Mbamnga–Yang Road, which commenced in early 2025. Improvement works are also listed along the Jalingo–Wukari corridor.
In the aviation sector, the government highlighted approval for the construction of an airstrip on the Mambilla Plateau.
The power and renewable energy initiatives include a 40-megawatt hydropower plant at the Kashimbila Multipurpose Dam, expected to supply electricity to the national grid, as well as irrigation channels to support year-round farming.
Other interventions include the deployment of solar-powered mini-grids, installation of solar streetlights and provision of solar home systems to households.
On agriculture and food security, the Renewed Hope Agricultural Support Programme is expected to provide farmers with improved seedlings, fertiliser and agricultural training.
The list also includes support for hybrid potato farming, expansion of irrigated farmland through dam infrastructure and development of agricultural processing centres.
For women and youth empowerment, the initiatives include agricultural support for women and young farmers through the First Lady’s Renewed Hope Initiative.
Vocational skills development and certification for women, start-up grants for small businesses, market women empowerment through business training and start-up tools, as well as rural grants and skills development programmes, are also highlighted.
In education, the Federal Polytechnic Nasarawa is listed for transformation into the Federal University of Mining, Engineering and Technology, alongside expanded scholarship opportunities and improved access to higher education.
On security, the government outlined plans for the establishment of a new Army Division in Jalingo, Taraba State, alongside strengthened security deployment to protect farming communities and improve safety.
The eighth area focuses on regional development, with the North Central Development Commission identified as a long-term regional development initiative. Additional federal road projects are also expected to improve connectivity and support economic activities.
Dare’s disclosure highlights the administration’s focus on infrastructure expansion, agricultural productivity, energy access and human capital development as part of its Renewed Hope Agenda.
Vice President Kashim Shettima has departed Abuja for Jos, Plateau State, alongside his wife, Hajiya Nana Shettima, ahead of the All Progressives Congress (APC) presidential campaign rally in the state.
The visit is part of the Tinubu–Shettima campaign’s engagements as the ruling party seeks to secure support for President Bola Ahmed Tinubu and Vice President Shettima ahead of the 2027 general elections.
The campaign’s visit to Plateau is expected to highlight the Federal Government’s infrastructure and economic development projects in the state, particularly those aimed at improving road connectivity, boosting commerce and supporting agricultural activities.
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Among the projects highlighted by the administration is the ongoing 125-kilometre Akwanga–Jos highway, which forms part of the Akwanga–Bauchi–Gombe–Maiduguri Superhighway.
Other projects include the rehabilitation of the Sharram–Garram–Babban Lamba Road in Kanke and the approved Mararaban Jama’a–Kanke–Langtang–Shendam–Ibi Road, which is expected to improve connectivity between Plateau and Taraba states.
The administration says the projects are part of its broader development agenda to connect communities, facilitate access to markets and provide farmers and businesses with improved infrastructure.
The APC campaign is expected to use the rally to present the administration’s achievements and future plans while seeking the confidence of Plateau residents to continue its development agenda beyond 2027.
The Ogun State Police Command has presented cheques totalling ₦10.65 million to families and next-of-kin of deceased police officers who served under the command, as part of efforts to support dependants of personnel who died in active service.
The cheques, amounting to ₦10,658,391.36, were presented on Saturday, November 14, 2026, by the Commissioner of Police, CP Bode Ojajuni, on behalf of the Inspector-General of Police, IGP Olatunji Rilwan Disu.
The statement was signed by the Police Public Relations Officer of the Ogun State Command, DSP Oluseyi B. Babaseyi, anipr, and dated November 14, 2026.
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The presentation took place at the Command Headquarters in Eleweran, Abeokuta, under the Nigeria Police Force Group Life Assurance and the IGP Family Welfare Schemes.
The initiatives are designed to provide financial assistance to families of police officers who lost their lives while serving the country.
Accompanied by members of the Command Management Team, Ojajuni personally handed over the cheques to the beneficiaries.
Addressing the recipients, the police commissioner reaffirmed the Inspector-General’s commitment to the welfare of police personnel and their families.
He described the widows and families of the deceased officers as the “true superheroes”, acknowledging their resilience in coping with the loss of their loved ones who died in service to the nation.
Ojajuni noted that the financial intervention was a demonstration of the Force’s appreciation and institutional responsibility to support the families of fallen officers.
He said the initiative represented the Nigeria Police Force’s enduring commitment to standing by the dependants of personnel who paid the ultimate price in active service.
Responding on behalf of the beneficiaries, Mrs Ejembi Ada Veronica thanked the Inspector-General of Police and the Ogun State Police Command for remembering their families and providing financial assistance.
She assured the authorities that the money would be channelled towards the education, upkeep and general welfare of the children and dependants left behind by the deceased officers.
According to her, the intervention would provide timely relief and help improve the stability of the affected families.
The Ogun State Police Command reiterated its commitment to supporting the families of fallen officers, assuring them of its continued solidarity.
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