NEWS
‘Everybody Will Have Stakes’ — Dangote Unveils Refinery IPO
President and Chief Executive Officer of Dangote Industries Limited, Aliko Dangote, has declared that Nigerians from all walks of life will have the opportunity to own stakes in the Dangote Petroleum Refinery through its Initial Public Offering.
Dangote made the statement on Monday during the official signing ceremony for the refinery’s IPO in Lagos.
“What we are trying to achieve is to make sure our drivers, cooks, servants, and everybody have the opportunity of having stakes in the refinery,” Dangote said.
SEE ALSO: Dangote Reveals Date for Much-Awaited Refinery IPO
The IPO will see the refinery offer 4.1 billion ordinary shares at ₦525 per share, giving investors an opportunity to become shareholders in one of Africa’s biggest industrial projects.
The official application list is scheduled to open on September 14, 2026, and will close on October 9, 2026, after 25 days.
Investors can subscribe to a minimum of 100 shares valued at ₦52,500, with subsequent subscriptions available in multiples of 50 shares.
The landmark signing ceremony was attended by prominent figures in Nigeria’s business and financial sectors, including Zenith Bank Chairman, Jim Ovia, and Heirs Holdings Chairman, Tony Elumelu.
Located in the Lekki Free Zone, Lagos, the Dangote Refinery has a refining capacity of 650,000 barrels per day, making it Africa’s largest single-train refinery.
The refinery, which was commissioned in May 2023 after nearly a decade of construction, attracted an investment of approximately $20 billion.
According to details of the IPO, proceeds from the public offer will be used to support a major expansion of the facility, with the company targeting an increase in processing capacity to 1.4 million barrels per day.
If achieved, the expansion would make the facility the largest operating oil refinery in the world, surpassing India’s Jamnagar refinery complex.
At ₦525 per share, the refinery has an estimated market valuation of about $47 billion, while a fully subscribed IPO could increase the total market capitalisation of the Nigerian Exchange by an estimated 30 to 40 per cent.
The company has also proposed paying dividends in US dollars, with foreign exchange earnings from refined petroleum products and petrochemical exports expected to support the dividend plan.
The public offering follows a $2.5 billion private placement completed in July as Dangote Industries seeks to raise additional capital for the refinery’s expansion.
NEWS
FCT Police Chief Inspects Worship Centres, Commends Residents for Peaceful Conduct
The Commissioner of Police, Federal Capital Territory (FCT) Command, CP Ahmed Muhammad Sanusi, has inspected security deployments at churches across the territory, urging officers to maintain professionalism and vigilance during religious activities.
The inspection was disclosed in a statement issued on Sunday by the FCT Police Public Relations Officer, SP Josephine Adeh.
Sanusi conducted the inspection on November 8, 2026, to assess the operational readiness of personnel deployed to worship centres and evaluate security arrangements for residents and worshippers.
SEE ALSO: October 1 Protests: FCT Police Call For Increased Vigilance Among Residents
The exercise followed a similar inspection of mosques across the FCT on Friday, November 6, as the Command sustained efforts to strengthen security around religious centres.
During the visits, the police commissioner charged officers to remain professional and responsive in the discharge of their duties.
He also commended residents for their peaceful and orderly conduct following mosque and church services, noting that public cooperation remained essential to maintaining security and public order across the territory.
The commissioner urged residents to continue cooperating with the police and other law enforcement agencies, remain security-conscious and promptly report suspicious persons, movements or activities to the nearest police station.
He further encouraged residents to utilise the Command’s emergency lines, 08032003913 and 08061581938, to report security concerns.
Adeh said the Command’s Public Relations Office remained open and accessible to members of the public for enquiries, complaints, information and other security-related matters.
The FCT Police Command reiterated its commitment to protecting residents and worshippers and maintaining security across the Federal Capital Territory.
NEWS
2027: Shettima Arrives in Uyo for APC Presidential Campaign Rally
Vice President Kashim Shettima has arrived in Uyo, the Akwa Ibom State capital, for the All Progressives Congress (APC) presidential campaign rally ahead of the 2027 general elections.
The development was disclosed on Friday by Stanley Nkwocha, Senior Special Assistant to the President on Media and Communications in the Office of the Vice President.
Akwa Ibom occupies a strategic position in President Bola Ahmed Tinubu’s Renewed Hope Agenda, with major federal investments expected to strengthen infrastructure and economic activities across the state.
SEE ALSO: 2027: Shettima Arrives in Lafia to Rally Support for Tinubu’s Re-election
One of the major projects is the Lagos–Calabar Coastal Highway, which has an approximately 82.8-kilometre stretch passing through Akwa Ibom.
The project, according to the statement, “promises improved connectivity, expanded trade, greater investment and new economic opportunities for communities across the region.”
Beyond infrastructure, the administration’s interventions in education, agriculture, healthcare, youth empowerment and social protection are also designed to improve livelihoods and broaden economic participation.
The Nigerian Education Loan Fund (NELFund) is among the initiatives highlighted, complementing Governor Umo Eno’s investments in roads, aviation, tourism and human capital development.
The statement noted that the Uyo rally provides “another opportunity to strengthen the APC’s growing political presence in the South-South and make the case for continuity in 2027.”
NEWS
Elohor Aiboni Honoured with DTN@100 Changemaker Award
Executive Vice President and Country Chair, Shell Companies in Nigeria, Elohor Aiboni was among 100 people honoured with the DTN@100 Award.
She joined a list of distinguished recipients recognised by the Daily Times newspapers. The contributions of the awardees to national development will be documented in a special publication, titled Nigerian Grand Book.
Daily Times which started publication in 1926 gave the awards as part of its centenary celebrations in Lagos. The centenary theme is: “Honouring the Past, Shaping the Future.” Chairman, Folio Media Group and Publisher Daily Times of Nigeria Fidelis Anosike said: “We proudly celebrate Elohor Aiboni, Executive Vice President and Country Chair of Shell Companies in Nigeria, for her well-deserved recognition at the Daily Times Heroes Award. As a visionary female leader, Elohor has shown that true leadership is defined by action. Her forward-thinking policies continue to drive real, positive change across our nation.”
In her response, Elohor said: “Although this award is presented to me, I do not regard it as mine alone. I share it with my colleagues across the Shell Companies in Nigeria, our partners, and the many people I have had the privilege of working with and learning from over the years.”
Elohor was commended for her achievements in a career in the energy industry that started in Shell in 2002. In addition to serving in operational roles within and outside Nigeria, she has worked as asset manager for Bonga, leading up to her appointment as Managing Director of Shell Nigeria Exploration and Production Company Limited (SNEPCo) in 2021, the first female to hold the post. Early this year, she took up the role of Executive Vice President and Country Chair, Shell Companies in Nigeria, also the first female and Nigerian to hold both roles.
READ ALSO: “8216;The Panic Is Real” Atiku Accuses APC of Plot to Weaken ADC
In her acceptance speech, Elohor also called for concerted efforts towards educating the girl-child. She said: “If we are serious about shaping Nigeria’s future, we must be equally serious about educating and empowering the Nigerian girl child. Education provides not only knowledge, but also confidence, choice and the opportunity to contribute meaningfully to her community and country.”
Photo Caption – L-R: Energy and Investment Solicitor, Sam Aiboni; Executive Vice President and Country Chair, Shell Nigeria, Elohor Aiboni; actress Rita Dominic; and Daily Times Chairman, Fidelis Anosike, during the award presentation at Harbour Point, Lagos.





