The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has attributed the success of the ongoing Dangote Petroleum Refinery initial public offering to the Federal Government’s deregulation of the petroleum sector.
Lokpobiri said this on Thursday while speaking at the National Summit of the Forum of Former Presiding Officers of State Houses of Assembly of Nigeria in Abuja.
The summit was themed, “Bold Leadership, Bold Reforms: From Subsidy to Renewed Hope…”
The Dangote Refinery IPO, which opened on September 14, comprises 4.1 billion ordinary shares at N525 per share and seeks to raise N2.15tn. It has been described as Africa’s largest IPO.
Speaking at the event, Lokpobiri said the government’s decision to deregulate the petroleum sector had enabled private-sector participation and contributed to the refinery’s emergence as a major player in the downstream oil sector.
He said, “I want to take the opportunity to say today that the reason
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