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Dangote Prepares Africa Largest IPO for Lagos Refinery

Billionaire Aliko Dangote is launching a 1.6 billion dollar share sale for his Lagos oil refinery, marking Africas biggest stock market listing. The IPO values the mega-refinery at 47 billion dollars as Dangote plans further regional expansion.

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President/Chief Executive Officer, Dangote Group, Aliko Dangote, departs the Nigerian Exchange Group building on the opening day of Dangote Refinery's initial public offering (IPO) at the Nigerian Exchange Group (NGX Group) in Marina, Lagos, Nigeria, September 14, 2026. REUTERS/Sodiq Adelakun

Aliko Dangote launched a $1.6B share sale for his Lagos oil refinery on Monday, setting up Africa's largest stock market listing. The IPO values the mega-facility at $47B, cementing a decade-long development effort. The 69-year-old billionaire plans to use the proceeds to double the plant's capacity and launch a new refinery project in Kenya.
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