Aliko Dangote, Africa’s richest man, has answered to an interviewer’s query about why he needs to raise money through an Initial Public Offering (IPO) when he already has enough personal wealth to fund his projects.

During a recent interview with Al Jazeera, the interviewer mentioned Dangote’s status as the world’s richest Black man and asked why he couldn’t simply use his own money to fund the initiative rather than going public.

“You are the richest Black man in the world, not only on the continent. Why do you need that much money? You can dip into your finances, take some money, fund the project. Why the IPO, and why now?” he said.

Dangote clarified, though, that the IPO’s objective was not to raise money for the project but rather to enable regular people to own a share of the business.

He clarified that he wanted people who might not normally have access to significant investments—such as employees and members of the public—to participate in the company’s growth.

“Okay, so let me tell you. The IPO we’re doing is not that we want to raise money. It is purely we want the poor people, people like my driver, my cook, your driver, your cook, yourself, your wife, and your kids, to have a piece of the action,” he added.

The exchange has attracted attention online, with social media users discussing Dangote’s response and the idea of ordinary Nigerians owning shares in the refinery.

Social media users have discussed Dangote’s response and the notion of common Nigerians owning shares in the refinery, drawing attention to the exchange.

Dangote’s remarks coincide with the ongoing initial public offering (IPO) of shares in the Dangote Refinery.