Veytics Intelligence
2026-09-17 · CO

'This is our company': Nigerians show off oil wealth after share-buying frenzy

At least that is what the social media memes would have you believe as investor fever hits the country. Nigerians have been eager to have a piece of the energy business that was built up by the country's – and continent's – richest man: Aliko Dangote. More than four billion shares in his giant oil refinery – representing just over 3% of the company - went on the market on Monday in Africa's biggest-ever sale of its kind. The minimum purchase was 10 shares for about $4 (£3) and despite this only representing a miniscule portion of the firm, many are now celebrating and joking about their new-found (part-)owner status.

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