Dangote Refinery IPO: Farmafrik Chairman Les Ojugbana to Empower Staff With Investment Bonus

Layer 1 Global entrepreneur and Chairman of Lagos-based Farmafrik, Les Ojugbana, has announced plans to provide eligible staff with a financial bonus to invest directly in the Dangote Refinery Initial Public Offering (IPO).

Ojugbana said the initiative would support the refinery while enabling Farmafrik employees to participate in a potentially significant long-term investment.

“It is important that we support not just Dangote for the amazing work he has done, but that we also empower the future of our staff,” he said.

“We want our staff to be invested for the long term. This is the people’s IPO, and we want to make sure that our people are financially empowered to participate in it.”

He said current economic conditions meant that many workers, including those earning around the minimum wage, might not have sufficient disposable income to buy shares, even at the lowest entry point.