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
Military Gear Found at Ondo Crash Site as Helicopter Burns to Rubble
Military gear has reportedly been found at the scene of a helicopter crash in Igbokoda, headquarters of Ilaje Local Government Area of Ondo State.
The helicopter crashed in a swampy area of the coastal community on Monday, October 5, 2026, sparking panic among residents.
The Chairman of Ilaje Local Government Area, Maurice Oripelaye, said military personnel and equipment were seen at the crash site, raising the possibility that the aircraft could have been a military helicopter.
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However, the identity of the helicopter and its operator had not been officially established as of the time of filing this report.
Oripelaye said the aircraft crashed near the Naval Base area and was burnt to rubble following the incident.
He also said the number of people who were aboard the helicopter could not immediately be ascertained, while the fate of those on board remained unclear.
Earlier, residents reported hearing a loud sound from the direction of the crash before discovering that an aircraft had gone down in the swampy area.
The difficult terrain has also made access to the crash site challenging, with security personnel and other responders deployed to the area.
The Ondo State Police Command has confirmed the aircraft crash and said investigations are ongoing to establish the circumstances surrounding the incident.
The police urged residents of Igbokoda and adjoining communities to remain calm and avoid spreading unverified information, promising to provide further details as credible information becomes available.
NEWS
JUST IN: Oluremi Tinubu Arrives BATICC for APC Women’s Pre-Inaugural Ceremony Arrives BATICC for APC Women’s Pre-Inaugural Ceremony
Nigeria’s First Lady, Senator Oluremi Tinubu, has arrived at the Bola Ahmed Tinubu International Conference Centre (BATICC) in Abuja for the All Progressives Congress (APC) Women Stakeholders’ Mobilisation and Empowerment Pre-Inaugural Campaign Roll-Out.
The First Lady arrived at the conference centre on Monday, October 5, for the women-focused political gathering organised by the Women Mobilisation Directorate of the APC Presidential Campaign Council ahead of the 2027 general elections.
The event is themed “Renewed Hope Agenda 2.0: From Reforms to Prosperity,” with the mobilisation message, “One Voice, One Movement, One Choice, One Mandate 2027.”
SEE ALSO: Tinubu Gov’t Does Not Engage, Everybody Is Its Enemy — Ajaero
The gathering is expected to bring together thousands of women from across the country, including women leaders, professionals, entrepreneurs, political stakeholders, community representatives and grassroots organisers.
20,000 women expected
The arrival follows a report published on Sunday, October 4, which said Oluremi Tinubu was expected to lead a major mobilisation of women stakeholders in Abuja.
According to the report, more than 20,000 women were expected to attend the Women Stakeholders’ Mobilisation and Empowerment Pre-Inaugural Campaign Roll-Out scheduled for 8am at BATICC.
The APC Women Mobilisation Directorate has also announced an ambitious target of mobilising 40 million women’s votes for President Bola Tinubu and Vice-President Kashim Shettima ahead of the 2027 presidential election.
Director of the Women Mobilisation Directorate of the APC Presidential Campaign Council, Dr Betta Edu, disclosed the target ahead of the gathering and said the structure was expanding its grassroots mobilisation across the country.
Speaking ahead of the event, a member of the APC Presidential Campaign Council Women Mobilisation Planning Committee, Princess Gloria Akobundu, highlighted programmes including the Nigerian Education Loan Fund (NELFUND), CREDICORP, infrastructure projects, cash-transfer programmes and youth empowerment initiatives.
Akobundu urged women in Imo State and across the South-East to strengthen their mobilisation structures and take the Renewed Hope Agenda message to communities across the region.
She said, “We are calling on our women across the South-East to strengthen their mobilisation and ensure that the message of the Renewed Hope Agenda reaches every community and locality.”
NEWS
‘Nigerians Still Exposed to Kidnappers Despite Subsidy Savings for Security’ – Atiku
Former Vice President Atiku Abubakar has criticised the Federal Government over the continued exposure of Nigerians to kidnappers, questioning the impact of savings from fuel subsidy removal on national security.
Atiku disclosed this in a statement on Monday while reacting to the abduction of 20 travellers, including prospective National Youth Service Corps (NYSC) members, in Imo State.
He described the abduction as “heartbreaking,” noting that although some of the victims had been rescued, others remained in captivity.
SEE ALSO: Fuel Subsidy: Atiku Showing Symptoms of Desperation — Afegbua
Atiku urged the Federal Government, Imo State Government and security agencies to act with urgency to secure the release of all those still being held.
He also raised concern over more than 70 pupils and students abducted from Mussa and Lassa in Borno State who, according to him, have remained in captivity for months.
“These children must not be forgotten. Their families deserve clear updates, and the public deserves answers,” he said.
The former vice president questioned the government’s handling of insecurity, recalling President Bola Tinubu’s promise that savings from the removal of fuel subsidy would help fund security.
“Yet Nigerians remain exposed to kidnappers on our roads, in our communities and around our schools,” Atiku said.
He said young Nigerians were facing danger at different stages of their lives, from secondary school to university and now while travelling to NYSC camps.
“Young people face danger in secondary school, struggle with unaffordable fees at university, and are now targets on their journeys to NYSC camps. This is a generation being failed at every stage,” he said.
Atiku also criticised the award of what he described as huge pipeline security contracts to politically connected companies, while ordinary Nigerians continue to face criminals.
“The first duty of government is to protect lives,” he stated.
He called for the immediate and safe rescue of every abducted young person and the return of those still unaccounted for.
Atiku also reaffirmed his commitment to building a safer and more affordable Nigeria where young people can create, build and prosper.
“My promise to build a safer and more affordable Nigeria, where young people can create, build and prosper, remains unshakable,” he said.





