Dangote Refinery attracts billions of dollars in investment interest ahead of IPO – President
Dangote Refinery Attracts $1 Billion Ahead of IPO
Aliko Dangote, president of Dangote Group, announced that his refinery has garnered $1 billion in investment interest as it prepares for an Initial Public Offering (IPO) scheduled for September 2026.
This announcement came during a visit from Femi Otedola, chairman of First HoldCo, along with the senior management team of the financial institution, to the refinery, which processes 650,000 barrels of crude oil per day.
Dangote reported that demand from institutional and private investors has surpassed the planned size of the investment placement for the refinery’s upcoming listing on the Nigerian Exchange Market. “We have a lot of demands in billions of dollars,” he stated, adding that advisers are currently assessing the amount to bring to market.
The Dangote Group aims to exceed a revenue target of $100 billion within four years.
In a related development, Otedola announced plans to invest $100 million in the Dangote Refinery.
The refinery, which plays a crucial role in meeting Nigeria’s domestic fuel consumption, is nearing completion of its public listing on the Nigerian Exchange (NGX). Recent data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority indicates that the Lekki-Lagos-based facility is currently operating at 99.12 percent of its capacity as of April 2026.
