Nigerians subscribing to the Dangote Petroleum Refinery Initial Public Offering (IPO) through Point-of-Sale (POS) terminals will not pay transaction charges, Aliko Dangote has said.
Dangote made the disclosure during an exclusive interview with ARISE News, explaining that the refinery will cover the commissions payable to POS operators, meaning investors will not bear the additional cost of using the payment channel.
“POS will not charge you a dime because we will pay the POS,” Dangote said.
He explained that while POS operators will receive a commission, the cost will not be deducted from investors’ payments.
“There’s a commission that’s left for POS. So you get your own money neat. You get your shares neat when you pay the money,” he said.
Dangote added that the arrangement is intended to allow prospective investors to participate from different locations, including rural communities.
“So you can go to anywhere from your village, from wherever it is,” he said.
The arrangement is part of the refinery’s broader effort to make participation accessible beyond traditional investment channels, particularly for people in locations where access to formal financial services may be limited.
Ademide Adebayo
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