Is The Dangote Refinery Up For Sale?
On March 8, 2026, an X user @ykbprst, claimed that the owner of dangote refinery, Aliko Dangote, has put up his refinery for sale. The post, which has a picture of Dangote and a refinery, is captioned, “🚨 JUST IN: Africa’s richest man, Aliko Dangote, has reportedly put his Dangote Refinery up for sale for about $30 billion. Reports say the news has already attracted several foreign buyers, with the Adeleke family currently leading the race to buy the refinery.”
When this report was published, the post had 450,800 views and 10,451 replies, reposts, quotes, likes and bookmarks. In the comment section, @albkyr_blal wrote “He is not selling his entire refinery, but plans to sell a 5%/10% stake in the Dangote Petroleum Refinery on the Nigerian Exchange Limited within the next year to raise capital. He aims to reduce his ownership to 65%-70% to diversify partnerships . The $30 billion sales is false.” while @nativenigj52 said “Imagine you writing fake news with so much confidence, and immunity if dangote like this your tweet. Na from prison to prison then go just dey transfer you dey go. Even your antoney make dey defend you for court go marry born children. You never still come out just dey play.”
VERIFICATION
The Dangote Refinery, located in Lekki, Lagos, is the world’s largest single-train oil refinery, with a capacity of about 650,000 barrels per day and an estimated construction cost of over 19–20 billion dollars.
In July 2024, Dangote said he was willing to sell the refinery to the Nigerian National Petroleum Company Limited, NNPCL, if regulators believed he had a monopoly in Nigeria’s fuel market. However, this statement was widely interpreted as a response to regulatory tensions, not as a formal attempt to sell the refinery or an announcement of a 30 billion dollars sale price.
The Adeleke family is one of Nigeria’s most prominent political, business, and entertainment dynasties. Originating from Ede in Osun State, the family has built influence across politics, business, education, and the entertainment industry.
However, there is no credible evidence from reputable news organisations, official company statements, or regulatory filings confirming that the refinery is up for sale or that the Adeleke family has made a bid.
Recent reports from Business Insider Africa indicate that the refinery may sell a small percentage of its shares to investors or list on stock exchanges, allowing Nigerians and institutional investors to own a stake. This is very different from selling the entire refinery.
Additionally, the 30 billion dollars figure likely comes from reports about Dangote’s personal net worth reaching around 30 billion dollars, not the price of the refinery itself.
Analysts have suggested a valuation of roughly 20–25 billion dollars, if the refinery were listed or sold to investors.
CONCLUSION
The claim that Aliko Dangote has put the refinery up for sale for 30 billion dollars is FALSE. While he once indicated he could sell the refinery to NNPC under specific circumstances, no confirmed plan or price for selling the refinery has been announced.
