Dangote Eyes Landmark African Market Listing to Float 10% Stake in Refinery

Nigerian industrialist Aliko Dangote has revealed plans to offload a 10 per cent share in his massive 650,000-barrel-per-day Dangote Petroleum Refinery through a pioneering pan-African initial public offering (IPO).

Speaking at an event organised by the Atlantic Council in Washington, DC, Dangote explained that the planned share sale is designed to attract investors from across the continent while strengthening Africa’s capital markets.

The refinery, valued at about $20 billion, is one of the largest in the world and has already begun operations, with expectations of playing a key role in regional fuel supply and export.

According to Dangote, the proposed listing will help mobilise long-term funding for future expansion while also encouraging wider African participation in ownership of major industrial assets.

The move forms part of broader efforts to deepen financial integration across African stock markets and expand investment opportunities beyond national borders.