Dangote Refinery

The company described the offer as a landmark for African capital markets, saying it recorded the largest opening-day offering in Nigerian capital market history and surpassed the previous African record within its first 10 days.

Dangote Petroleum Refinery and Petrochemicals has posted $22.5 billion in revenue and $4.7 billion in net profit for the nine months ended September 30, 2026, compared with a loss of $117.2 million in the corresponding period of 2025.

The Nigerian Exchange Group (NGX) is taking Dangote Petroleum Refinery and Petrochemicals FZE’s ₦2.15tn initial public offering to investors in Egypt, Ethiopia and Botswana as it seeks to attract cross-border participation in the share sale.

The decision was delivered on Wednesday by High Court Judge Jane Onyango during proceedings in Malindi, where residents had challenged the development of the proposed 700,000-barrel-per-day refinery in the Lamu archipelago.

Dangote Petroleum Refinery and Petrochemicals has extended its ₦2.15 trillion initial public offering (IPO) to October 27, 2026, following approval by the Securities and Exchange Commission (SEC), to accommodate rising investor interest across Africa.

The acting Managing Director of NPF Pensions, Muhammed Dutse, disclosed this in Abuja on Monday during activities marking the 2026 Customer Service Week.

The Dangote Petroleum Refinery has stopped selling Premium Motor Spirit (petrol) to major marketers that import petroleum products, citing concerns that its high-quality fuel could be blended with imported grades of uncertain quality.

The visit was confirmed by Dangote Group, which said its President, Aliko Dangote, would host the Kenyan leader at the Lagos refinery.

Dangote supplied approximately 35.87 million litres daily in August, accounting for 71% of petrol receipts, according to NMDPRA figures reported by Punch on September 24. These are supply figures, rather than motorists’ purchases.

Dangote Group’s planned Kenyan refinery has taken a step towards development with an engineering and project management contract worth more than $450 million, extending a partnership behind its Nigerian refining business.