Chibuike Uche interviewed by Bloomberg about Dangote Refinery's share sale

Chibuike Uche, Chair of the governance of finance and integrity at Leiden University, was interviewed by Bloomberg about the share sale of Dangote Oil Refinery in Nigeria. The offer of 4.1 billion shares at 525 naira (about 0,34 Euro) each opened on 14 September and will close on 13 ​October. Dangote’s plant reached full capacity this year, with the war in Iran leading to demand for Dangote's fuel across Africa and in Europe.

Aliko Dangote, founder of the Dangote Group and Dangote Cement, has faced criticism about his companies dominating their markets. But according to Prof. Uche, Dangote grew his businesses 'by building local processing capacity for refined products that are too costly to import'. '(...) the industry has to emerge first, then monopoly rules will grow from that', he comments in the article.
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