ABUJA, 06 Sept. - (ANA) - Aliko Dangote, Africa’s richest man, said his refinery’s much-anticipated IPO would launch soon, a move that could mark a step-change for the continent’s financial and energy markets. 

 

Dangote said the firm would seek to raise $5 billion after the offer launches within the next 12 days, potentially making it Africa’s biggest-ever public offering. The cash will help the Nigerian refinery more than double its production — already the largest on the continent — to around 1.4% of global capacity.

 

The move is also expected to attract more funds into the country’s energy sector: The International Energy Agency head said the country could double its investment in five years as nations seek trustworthy partners after the fallout of the Iran war. Another Dangote-backed megarefinery is in the works in Kenya.   - (ANA) -

 

AB/ANA/06 September 2026 - - -