Dangote Petroleum Refinery’s initial public offering has attracted share applications worth about N5.85tn ($4.1bn), more than two-and-a-half times its initial fundraising target, amid strong demand from Nigerian and international investors.
Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority’s (NMDPRA) September 2026 Fact Sheet show that exports increased by 37.33 percent from 39.78 million litres per day in August.
Dangote Petroleum Refinery and Petrochemicals has concluded its initial public offering (IPO), attracting investor applications from 120 countries across six inhabited continents, including all 54 African countries.
Industrial automation provider, Honeywell Technologies, has announced the global debut of its Forge Plant Cognition platform at the Dangote Petroleum Refinery in Lekki.
Dangote Petroleum Refinery and Petrochemicals has reported a $4.73 billion net profit for the first nine months of 2026, reversing a $117.2 million loss a year earlier.
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.
An Akwa Ibom State High Court sitting in Uyo has dismissed a petition seeking the dissolution of a marriage that has lasted over 43 years, ruling that lack of love and mutual respect between spouses does not, on its own, constitute sufficient legal grounds for divorce.
