Billions Of Dollars Pour In as Dangote Refinery Prepares for Historic Listing

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Aliko Dangote, president of the Dangote Group, has disclosed that his refinery has attracted billions of dollars in investment interest ahead of its planned Initial Public Offering scheduled for September 2026.

He made this known during a recent visit by Femi Otedola, chairman of First HoldCo, alongside the institution’s senior management team to the 650,000-barrel-per-day refinery.

According to Dangote, the level of demand from institutional and private investors has already exceeded the intended placement size ahead of the refinery’s planned listing on the Nigerian Exchange Group market.

“We have a lot of demands in billions of dollars,” he said. “The advisers are still evaluating to see how much we are going to go to the market with,” he stated.

He also disclosed that the group is targeting to surpass a $100 billion revenue mark within the next four years.

This comes as Otedola announced plans to invest $100 million in the Dangote Refinery.

ZINGTIE reports that the refinery, which currently supplies the majority of Nigeria’s domestic fuel consumption, is now at the final stage of public listing on the NGX.

According to recent data released by the Nigerian Midstream and Downstream Petroleum Regulatory Authority, the Lekki-Lagos-based refinery achieved 99.12 percent operational capacity as of April 2026.

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