Dangote Refinery Files for IPO, Targeting September 2026 Listing on Nigerian Exchange
Dangote Petroleum Refinery, one of the world’s largest oil refineries, has filed an initial public offering (IPO) application with Nigeria’s Securities and Exchange Commission, moving the company closer to a listing on the Nigerian Exchange. The filing, reported by Daba Finance and carried by AllAfrica, would mark one of the most significant capital markets events in African history.
SEC Director-General Emomotimi Agama confirmed that the refinery’s advisers are working with the regulator and that the company is targeting September 2026. No offer or listing date has been approved, and the application remains subject to regulatory review.
Background on the refinery
The Dangote Petroleum Refinery, located in Lekki, Lagos, is a 650,000 barrels-per-day facility operated by Dangote Group, Africa’s largest industrial conglomerate. Operations began in phases from 2024, and the plant is designed to process crude oil into refined products including gasoline, diesel, and jet fuel. It has been positioned by its promoters as a central piece of infrastructure aimed at reducing Nigeria’s reliance on imported fuels.
The refinery is owned by Aliko Dangote, widely regarded as Africa’s wealthiest individual, whose business empire spans cement, sugar, fertiliser and petrochemicals across the continent.
Significance for Nigerian markets
A listing of this scale would be a milestone for the Nigerian Exchange, which has sought in recent years to attract more large-scale domestic and international listings. If completed, the IPO would be among the largest ever undertaken in Africa and could draw significant institutional investment. The SEC has not yet disclosed financial details of the proposed offering, and according to AllAfrica, the timeline remains subject to the regulator’s review process.
Sources
This report was written from coverage published by the following news organisations. Follow the links for the original reporting.
