The Independent Petroleum Marketers Association of Nigeria has urged its members nationwide to invest in the planned initial public offering of Dangote Petroleum Refinery, saying the share sale will allow them to own stakes in the refinery.
The association said the IPO would allow independent petroleum marketers to move beyond being buyers of refined products to becoming shareholders in one of Nigeria’s largest refining assets.
The National President of IPMAN, Abubakar Shettima, made the call in a statement on Thursday while congratulating the management and board of Dangote Petroleum Refinery and Petrochemicals on the planned public share sale.
Shettima urged members to take advantage of the offering, describing it as an opportunity for them to acquire equity in the refinery.
“The National President of IPMAN therefore calls on her members nationwide to aggressively capitalise on this share sale, as it is a rare, strategic opportunity to evolve from off-takers of petroleum products into equity owners of the primary production infrastructure.
