Jump to navigation

Vol 67 No 18

Published 11th September 2026


Nigeria

Dangote’s refinery goes public, and so does his ambition

A record share sale is meant to crown Africa’s most audacious industrialist. It may also expose how much his empire depends on political favour

Aliko Dangote is aiming for Africa’s biggest ever initial public offering as he seeks to raise at least US$1.6 billion to expand his Lagos refinery to 1.4 million barrels a day (b/d) from current capacity of 600,000 b/d. The IPO is due to open on 14 September and close on 13 October, with shares expected to list on the Nigerian Exchange in November, according to the lead issuing house Vetiva Advisory Services.

End of preview - This article contains approximately 2022 words.

End of preview

Subscribers: Log in now to read the complete article.

Account Holders: Log in now and use your Account Credit to buy this article. No Credit? Top up your Account now.


If you are logged in, but still cannot access the full text of this article, email customer services or telephone us on +44(0)1638 743633.