Dangote Refinery Nears 5B IPO

Dangote Refinery prepares for a five billion dollar initial public offering in October. Investors are carefully weighing crude supply costs and import reliance against potential capacity growth.

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FILE PHOTO: A flame rises from a gas flare at the Dangote Industries oil refinery and fertilizer plant site in the Ibeju Lekki district of Lagos, Nigeria March 2, 2026.

Nigeria's Dangote refinery plans to raise $5B in an October IPO, targeting Africas largest listing following a profit surge driven by the conflict in Iran .

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