Dangote IPO: Truck Drivers Protest Alleged Interference by Shareholders

Truck drivers working with the Dangote Group have raised concerns over what they described as increasing harassment and unsolicited interference from some newly registered retail investors following the launch of the Dangote Petroleum Refinery and Petrochemicals Initial Public Offering (IPO).

According to a report by PRNigeria, one of the drivers, in a video translated from Hausa into English by Economic Confidential, said some individuals had begun stopping him on the road and claiming a sense of ownership over the truck after purchasing shares in Dangote Refinery.

The driver recounted an incident in which a man approached him while he was offloading goods and asked about “their truck.” The man reportedly explained that he had acquired shares in Dangote.

The driver also alleged that another individual travelling in a taxi warned him against careless driving and threatened to recommend his dismissal, claiming to be a shareholder in the company.

He said three people had approached him with similar comments since the IPO was launched on September 14, describing the situation as increasingly difficult for truck operators.

The driver appealed to members of the public who invested in the IPO to distinguish between being a shareholder and having operational control over the company's assets or employees.

He noted that investors were entitled to their shares but said share ownership did not give individual shareholders authority to direct truck drivers or interfere with their employment.

The concerns emerged shortly after Dangote Petroleum Refinery and Petrochemicals formally launched its public offering on the Nigerian Exchange on Monday, September 14, 2026.

The company is offering 4.1 billion ordinary shares at N525 per share, with the IPO targeting approximately N2.15 trillion in proceeds. The minimum subscription is 10 shares, while the offer is scheduled to close on October 13, with listing expected in November 2026.

Dangote Group founder, Aliko Dangote, has said the offering is intended to provide Nigerians and other Africans with an opportunity to acquire a stake in the refinery while raising funds for expansion.