Africa's richest man, Aliko Dangote, has said President Bola Tinubu's leadership is why planes are still flying in Europe today.
Speaking at the IPO launch of his Dangote Refinery, which has benefited from Tinubu's reforms in the oil sector, the billionaire revealed that his refinery is the largest jet fuel supplier to Europe.
He said, "Dangote Refinery is the largest supplier of jet fuel to Europe. Europe must really thank Nigeria under the leadership of President Bola Tinubu for keeping its planes flying."
The $1.6 billion the IPO is expected to raise will help expand his mega oil refinery into the world's largest.
The Lagos-based refinery, which began operations in 2024, has a capacity of 700,000 barrels per day, exceeding domestic demand in Nigeria, Africa's most populous country.
It began exporting its fuel abroad a few months ago.
The Dangote Petroleum Refinery aims to raise funds to double its capacity to 1.4 million barrels a day by 2028, making it the world's largest refinery and surpassing Jamnagar in India.
Describing it as an "historic day", Dangote said in a statement that the IPO was "not simply about listing a company. It is about listing a new possibility for Nigeria, and for Africa".
Investors can buy as few as 10 shares at 525 naira each, potentially raising 2.15 trillion naira ($1.6 billion) in a move Dangote hopes will give ordinary people a chance for a stake in a long-term asset.
He has said the offering, which closes October 13, will be the biggest IPO in African history and has encouraged participation by small investors, including people on lower incomes.
Dangote also plans to build a 700,000 barrel-per-day East African oil refinery in Lamu, on the Kenyan coast.
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