In picture :Otedola led top executives of First HoldCo on a tour of the Dangote Refinery and the fertiliser plants in the Lekki free trade zone area, May 20, 2026
Billionaire Femi Otedola, chairman of First HoldCo, on Wednesday requested Aliko Dangote to allocate to him the Refinery’s shares worth $100 million in the private placement.
“That’s one of the reasons I sold my stake in Geregu plant to come and invest my proceeds in the IPO of Dangote refinery,” said Otedola.
The private placement is the latest announcement in the refinery’s Initial Public Offering plan, IPO expected later in the year.
Otedola led top executives of First HoldCo on a tour of the refinery and the fertiliser plants in the Lekki free trade zone area.
The team also visited key project sites such as the jetty, a facility built by Dangote industries to receive large vessels.
While the actual date for the IPO is yet to be announced, Dangote refinery is expected to conduct the public listing later this year.
