Dangote Refinery at centre of Africa's largest-ever share sale

Nigeria's Dangote Refinery, built on reclaimed wetlands in Lekki after about a decade of construction, has become one of Africa's largest industrial projects and is now at the centre of the continent's largest-ever share sale. The $20bn facility covers 2,635 hectares and can process 650,000 barrels of crude oil a day, more than Nigeria's four state-owned refineries combined. The refinery has been operating since 2024 and has helped reduce Nigeria's reliance on imported fuel, while providing greater protection against supply disruptions linked to the US-Israel war on Iran. The Dangote Group is now seeking about $1.6bn through a public share offering as it looks to raise up to $5bn from public and private investors. Aliko Dangote says the refinery's importance is not only about fuel prices but ensuring availability for Nigeria's large population during global supply disruptions. The company also plans to double the refinery's output and expand its reach across regional markets. Al Jazeera's Ahmed Idris reports from Lekki, Nigeria. Subscribe to our channel: bit.ly
Follow us on X: X.com
Find us on Facebook: facebook.com
Check our website: aljazeera.com
Check out our Instagram page: instagram.com
Download AJE Mobile App: aje.news
#Nigeria #AlikoDangote #DangoteRefinery #Dangote #NigerianExchange #NGX #StockMarket #DamgpteShareOffering #IPO #NigeriaEconomy #NigeriaStockMarket #AlJazeeraEnglish