Dangote Refinery to Debut on Stock Market by 2026
Aliko Dangote, President of Dangote Group, has announced plans to list his $20 billion oil refinery on the Nigerian Stock Exchange by the end of 2026. The refinery, located outside Lagos, is Africa’s largest and can process 650,000 barrels of crude oil per day, producing aviation fuel, naphtha, diesel, and gasoline.
The decision to list the refinery aims to broaden the company’s investor base and counter concerns about monopolistic dominance in Nigeria’s energy sector. Dangote said, “It’s important to list the refinery so that people will not be calling us a monopoly… They will now say we have shares, so let everybody have a part of it.”
In addition to the refinery listing, Dangote plans to list his urea plant this year, which produces 2.8 million tons of crop nutrient annually. He also pledged that Africa will be self-sufficient in fertilizer within 40 months, thanks to a planned expansion of his $2.5 billion plant on the outskirts of Lagos.
The company expects to generate $30 billion in annual revenue by 2026 and plans to surpass Qatar as the world’s largest urea exporter within four years. The facility currently exports 37% of its output to the US
Dangote’s strategic move is seen as a step towards increasing transparency and allowing Nigerians and global stakeholders to buy into Africa’s largest industrial project. The listing could also improve the refinery’s access to capital, drive operational accountability, and boost investor confidence . #Dangote Refinery to Debut on Stock Market by 2026#
