Aliko Dangote, president of Dangote Group, said his company’s refinery has drawn more than a “billion dollars” worth of investor interest in anticipation of a planned initial public offering in September 2026, after strong demand from both institutional investors and private backers surpassed the size of the placement originally intended for the listing.
Investor demand ahead of the September 2026 listing
- Dangote said the refinery has attracted a surge of interest from investors ahead of its planned IPO, with the total interest running into the billions of dollars.
- He made the remarks during a visit to the 650,000-barrel-per-day refinery by Femi Otedola, chairman of First HoldCo, along with senior members of the financial institution’s management team.
- Dangote said the pipeline of demand from institutions and private investors has grown beyond the originally planned offering size for the Nigerian Exchange listing.
- He added that advisers are still assessing how much of the capital raising will ultimately be brought to the market.
- Dangote said the group is aiming to exceed a revenue goal of $100 billion within four years.
Otedola, during the same visit, announced a plan to invest $100 million in Dangote Refinery.
Refinery progress and market timing
As the listing approaches, the refinery is described as being in the final phase of preparing for its public offering on the Nigerian Exchange. Recent regulatory figures indicate that the Lekki, Lagos-based plant reached 99.12% operating capacity as of April 2026, underscoring its scale and readiness ahead of the IPO timetable.
