Nigeria's oil sector upheaval

More than four billion shares - just over 3% of the company - in Aliko Dangote's giant Lagos oil refinery went on public sale this week in what's being called Africa's biggest such offering, with a minimum buy-in of about $4 for 10 shares. The sale set off a social-media frenzy in Nigeria, with the pun 'Yangote' ('we all have a share now') trending and investment apps crashing under demand; one platform, Bamboo, publicly apologized for the outage. Everyday buyers - a clothes seller, drivers, cooks - described the appeal as a rare chance to own a piece of a homegrown success story at a time when Nigeria's economy is struggling.

Follow this story on the globe Share

As it ran

18 September 2026

• 'This is our company': Nigerians show off oil wealth after share-buying frenzy BBC News
• Nigerian police probe 37 deaths in custody of suspected illegal miners BBC News
• Dozens of suspected illegal miners die in Nigerian custody BBC News
• Nigerian police probe death in custody of 37 illegal mining suspects Al Jazeera