Dangote Industries Limited

But how long can we cope? You know, when you pull an elastic to a point, you start breaking its elasticity.

Aliko Dangote, president of the Dangote Group, has explained why petrol prices remain high.

That's in Nigeria, despite the commencement of large-scale domestic refining.

He said local production does not completely shield the country from prevailing global crude oil prices and market disruptions.

What Dangote have done, nobody in Africa have done it.

For the next one month, thousands of Nigerians will try to buy Dangote Refinery.

This current Dangote will drive a lot of people that have never had one unit of shares to start participating in the stock market.

But what happens when everyone has bought it?

The stock market-

Financial advisor is not to tell people to buy a stock when everybody's buying it, it's to know when nobody's buying it and telling people to buy it, so that by the time everybody's coming there to buy it, you know what we say now, you don't care.

Hey.

Is Dangote Refinery really worth its valuation? Can it maintain its dominance? What happens when competition comes?

What would have just been reasonably expected, like we're seeing and other OPEC nations do, is to build your refining capacity.

But one of the things that kept Nigeria so down is that how can a big nation like us, and all thanks to Dangote, right? I celebrate him a lot for one reason, because he's opened up the sector a bit.

In Nigeria, like you know, you have the upstream sector which has to do with oil exploration, right?

Yeah.

But there are, most importantly, there are always alternative uses." What is the alternative way in this particular instance? Fix the refineries.

Enhance your refining capacity.

And where you also have big players like Dangote coming in, let it be a leverage for Nigeria, right? Give more oil to the local refiners, and let's sell more of the refined product because guess what? Listen to me.

For any crude version we sell, eh-

That is, what should Nigerians know? What should you know? What questions do you have? We have just the right and perfect guest to help answer those questions.

not as an interested party, let me say, from inside the Dangote Refinery or the Dangote Group, but first of all, as a public affairs analyst whom we've been having on this station, and of course, someone who also is involved in the finance sector as well.

So once again, welcome Lagos, welcome Nigeria, wherever you're listening to us from the world, welcome.

This is the Morning Crossfire.

So I mean, I think that shift has already started.

I'm sure you've seen the headlines around the Dangote Refinery IPO that is happening in October now.

I think retail has always been population that in as much as they know they need to put money away for a rainy day, hasn't really been included in a significant way on the continent when it comes to capital markets.

Most people get away with a savings account or an informal savings club, what they call Susu here in Ghana, and that has really been it.

And for us, that was what we set out to, to attempt to close the gap on at Second Stacks, because you have a market where there are lots of different things that happen before a transaction is executed, and none of that is being looked at holistically in terms of some of the efforts we've seen to bridge that gap.

Yeah.

I mean, I, looking at some of the enthusiasm around the Dangote IPO and people selling else for the Nigerian market, ostensibly to move cash into Dangote, it seems like that's maybe the hottest IPO in Africa, and yet you're saying the Nigerian market is one where I can't easily go, and they're putting hurdles in my way, and I'm wondering how you square that with a president who says he wants to open up access and a lot of things happening a- and yet it seems to struggle.

Right.

But of course, we're talking about, um, what we're seeing today, uh, where billionaire Aliko Dangote has launched an IPO for his massive oil refinery in what is being described as Africa's biggest share sale yet.

And as you heard, um, from Calvin this evening, just unpacking the history of the Dangote Group, uh, starting, uh, way back, uh, at around, uh, in the early 2000s.

But it looks like we've got Calvin back on the line.

Uh, Calvin, of course, you were just helping us unpack, uh-