Dangote plans refinery stock market debut in deal that could raise $5bn


The proposed listing of Dangote Petroleum Refinery & Petrochemicals could involve the sale of up to 10% of the company, implying a potential offering worth around $5 billion, Bloomberg reported, citing sources close to the discussions.


According to reports, a senior executive at the Dangote Group confirmed that the projected valuation reflects the company’s internal expectations but declined to comment further on the timing or structure of the transaction.


The planned listing comes as rising global crude oil prices and stronger domestic fuel consumption improve the refinery’s commercial outlook. Located in the Lekki Free Zone in Lagos, the facility has a refining capacity of 650,000 barrels per day, making it Africa’s largest single-train refinery.








Since beginning large-scale production of petrol, diesel and aviation fuel, the refinery has reshaped Nigeria’s fuel supply chain, reducing reliance on imported petroleum products and increasing local refining capacity in Africa’s biggest oil producer.


Analysts say the transaction could become one of the largest listings in the history of Nigeria’s capital market if it is successfully completed.


They also note that the refinery’s growing petrochemicals operations and expansion into products such as linear alkyl benzene, used in detergent manufacturing, could strengthen investor interest across African and international markets.

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