Aliko Dangote plans to launch a landmark pan-African initial public offering (IPO) for his oil refining business, Dangote Petroleum Refinery and Petrochemicals, with listings across multiple African stock exchanges. The move, which is being advised by Stanbic IBTC Capital, Vetiva Advisory Services, and FirstCap, aims to deepen capital markets across the continent while broadening investor participation.
The refinery, currently operating at a capacity of 650,000 barrels per day, is set for expansion to 1.4 million barrels per day over the next three years. This growth is supported by a $2.5 billion syndicated financing facility and forms part of a broader $40 billion investment strategy spanning refining and fertiliser production. The IPO is expected to strengthen Nigeria’s equity market and position the refinery as a continental industrial asset.
Separately, Nigeria’s upstream regulator has introduced stricter emissions reporting requirements, mandating oil and gas operators to adopt advanced measurement and verification systems. The reforms aim to enhance transparency, align with global climate commitments, and attract climate-focused investment into the sector.
