Dangote Petroleum Refinery may increase the portion of its shares available to investors if demand exceeds the number currently on offer under its ongoing public offering.

According to Legit.ng, Aliko Dangote disclosed the possibility during an interview with Arise News on Tuesday, saying the refinery could release an additional 30 per cent of its shares if the offer is oversubscribed.

Dangote said the move would create room for more Nigerians and other investors to participate in the ownership of the multibillion-dollar refinery.

“If there is oversubscription, we will give up more shares. To about 30 percent more,” he said, adding that the company would take steps to accommodate greater investor participation.

The possible increase would depend on the level of demand recorded during the offering, as the refinery seeks to broaden public ownership through the share sale.