Dangote Petroleum Refinery & Petrochemicals is targeting a $1.5 billion IPO on the Nigerian Exchange. The offering comprises 4.1 billion shares at 525 nairas each, representing approximately 10% of the company’s equity. A $2.5 billion private placement completed in July 2026, oversubscribed by a factor of 3.7, had valued the facility at roughly $40 billion. Aliko Dangote, Africa’s wealthiest individual, plans to use IPO proceeds to double the refinery’s capacity from 650,000 to 1.4 million barrels per day. Nigeria’s SEC had halted unauthorized marketing of the offering in June 2026 before approving the IPO documentation in September.
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