Dangote Refinery IPO to Open in 10–12 Days, Dangote Announces

LAGOS, Nigeria — The long-awaited initial public offering (IPO) of the Dangote Petroleum Refinery is expected to open within the next 10 to 12 days, its owner, Aliko Dangote, has announced.

Dangote disclosed on Thursday while speaking to investors and analysts during a visit to Botswana.

The proposed IPO is expected to raise about $5 billion, potentially making it one of the largest, if not the largest, public offerings in Africa.

“The IPO will open in the next 10 to 12 days,” Dangote said, while outlining his plans to expand the refinery.

Refinery Capacity to Rise to 1.4 Million Barrels Per Day

Dangote also revealed plans to more than double the refinery’s current processing capacity.

The refinery currently has a nameplate capacity of 650,000 barrels of crude oil per day. Dangote said the company intends to increase that figure to 1.4 million barrels per day.

The expansion is expected to be supported partly by funds raised through the IPO.

If completed, the expansion would significantly strengthen Nigeria’s position as a major refining hub and increase the country’s ability to supply refined petroleum products to both domestic and international markets.

Refinery Reaches Full Capacity

The Dangote Refinery reached its full nameplate capacity of 650,000 barrels per day in February 2026 and has subsequently tested production at around 700,000 barrels per day, according to reports.

The facility, located in the Lekki area of Lagos, has become a major player in Nigeria’s petroleum industry since beginning commercial operations.

Its growing production has also enabled Nigeria to export refined petroleum products to international markets.

What the IPO Could Mean for Investors

The planned IPO will allow investors to acquire an interest in the refinery and give the company access to additional capital for expansion.

The expected $5 billion fundraising would represent a major transaction for Nigeria’s capital market and could attract significant interest from institutional and retail investors.

However, investors will need to study the official offer documents and prospectus carefully once released, particularly details on the number of shares being offered, pricing, valuation, dividend policy and the planned use of the proceeds.

Dangote Cement Also Set for London Listing

Dangote also disclosed that Dangote Cement is expected to pursue a secondary listing on the London Stock Exchange, most likely in October.

The move could give the cement company greater access to international investors and broaden its sources of capital.

With the refinery IPO and Dangote Cement’s planned London listing expected within the same period, the Dangote Group is heading into a significant period for its capital-market ambitions.

A Major Moment for Nigeria

The Dangote Refinery IPO could become a major milestone for Nigeria’s financial and energy sectors.

Beyond raising capital for expansion, the offering could increase public participation in one of Africa’s most strategically important industrial projects.

As preparations continue, investors and the wider Nigerian public will be watching closely for the official prospectus and details of the offer.