Africa's richest man, Aliko Dangote, is seeking $1.6 billion from investors to fund a major expansion of his oil refinery, but analysts say the offer may be unaffordable for ordinary Nigerians.
Thousands of first-time investors say they bought stock in the refinery owned by Africa's richest man, Aliko Dangote, in a wave of enthusiasm over national pride and potential profit.
The $19 billion Nigerian refinery is seeking $1.6 billion from retail investors across the continent, in an offering that values the company at roughly $49 billion.
Aliko Dangote's $19 billion Nigerian oil refinery seeks $1.6 billion from retail investors in an offering valuing the plant at roughly $49 billion.
The Nigerian oil refinery plans to open itself to public ownership across the continent, according to a report by France 24.