LAGOS — August 18, 2026
The Dangote Petroleum Refinery is moving closer to becoming a publicly listed company after securing a $1 billion underwriting programme ahead of its planned Initial Public Offering.
The programme includes a $600 million private placement that has already been completed, while another $400 million underwriting commitment has been secured to support the planned share offering.
The refinery has applied to Nigeria’s Securities and Exchange Commission for an IPO that could be worth as much as $5 billion, although the final value of the offering is yet to be determined.
If completed, the listing could become one of the biggest public offerings ever seen in Africa.
The development is also significant for Nigeria’s capital market as the refinery seeks to attract more local and international investors.
The Dangote Refinery, located in Lagos, has become one of the country’s most important energy projects. Its growing production capacity is expected to reduce Nigeria’s dependence on imported refined petroleum products.
The planned IPO could give investors an opportunity to own a stake in one of Africa’s largest industrial projects while providing the refinery with additional capital for expansion.
Monafrika News will continue to follow developments around the proposed listing.
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