Africa rising: Nigeria’s Dangote oil refinery signs IPO documents before landmark share sale
Africa’s richest share listing goes to market next week and the global energy market may never be the same again.
Nigeria's Dangote oil refinery has taken a significant step towards its landmark share sale, signing offering documents on 7 September 2026. The initial public offering (IPO) is set to run from 14 September to 13 October, with the company planning to sell 4.1 billion ordinary shares at 525 naira each. If fully subscribed, this could raise approximately 2.15-trillion naira.
The IPO marks a crucial milestone for Africa's richest share listing and will test investor appetite for one of Africa's most ambitious industrial projects. The 700,000-barrel-per-day refinery, built with a cost of about $20-billion, has already reshaped Nigeria's fuel market and benefited from supply disruptions linked to the Iran war.
The IPO aims to raise funds for a planned doubling of the refinery's capacity to 1.4 million barrels per day.
Brief written by urgent.news from Daily Maverick's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
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