Aliko Dangote says the initial public offering of the Dangote Petroleum Refinery is expected to take place in September 2026, citing strong investor interest running into billions of dollars. He made the announcement on Wednesday during a visit by First HoldCo chairman, Femi Otedola, to the refinery in the Lekki Free Trade Zone, Lagos.
Dangote said demand for shares has exceeded expectations, including earlier plans for a $2 billion private placement, adding that advisers are still finalising the valuation for the listing. He said the company plans to widen ownership and allow more Nigerians to participate in the refinery project.
The billionaire described the refinery as one of the largest industrial projects in the world, saying it could become the biggest refinery globally by capacity. He added that it is expected to generate significant revenue and reshape Africa’s refining sector.
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Otedola, who led a delegation of First HoldCo executives on the visit, praised Dangote’s vision and said the bank aims to learn from the refinery project as part of its growth strategy in Africa’s financial sector.
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