Former Anambra State Governor and Nigeria Democratic Congress, NDC, presidential candidate, Peter Obi, has reacted to the ongoing Initial Public Offering, IPO, of the Dangote Petroleum Refinery.
Obi commended President of Dangote Group, Aliko Dangote, for what he described as a major investment breakthrough in Nigeria and Africa.
In a statement shared on his verified X handle on Wednesday, Obi said the refinery investment supports his long standing position that Nigeria must shift from consumption to production.
He encouraged Nigerians to support businesses investing in productive sectors of the economy.
Obi also called on other Nigerian companies to consider offering shares to the public, saying such moves would allow citizens to participate in the country’s reindustrialisation.
“In the course of my engagements with Nigerians at home and in the diaspora, many of them have sought my opinion on investing in the ongoing Dangote Petroleum Refinery Initial Public Offering.
“While encouraging them to buy, I must say that I remain very proud of the commitment and breakthrough of Alhaji Aliko Dangote’s investment in the real sector of our country’s economy, across different sectors,” he wrote.
He said wider public participation in major Nigerian businesses could help deepen local ownership and encourage further investment in productive sectors.
Obi’s comments come as the Dangote Refinery moves to raise capital through its IPO, offering members of the public an opportunity to acquire shares in the business.
The former governor has consistently advocated greater investment in production and the real sector as part of efforts to strengthen Nigeria’s economy.
