Dangote Refinery Draws Strong Investor Interest Ahead of Planned IPO
President of the Dangote Group, Aliko Dangote, has revealed that the company’s refinery project is attracting billions of dollars in investment interest ahead of its planned Initial Public Offering (IPO) scheduled for September 2026.
Dangote made the disclosure during a recent visit by Femi Otedola, chairman of First HoldCo, alongside senior management officials of the financial institution to the 650,000-barrel-per-day refinery.
According to Dangote, interest from institutional and private investors has already surpassed the expected placement size ahead of the refinery’s planned listing on the Nigerian Exchange Group.
“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 also expressed confidence in the group’s long-term financial outlook, stating that the company aims to exceed a projected $100 billion revenue target within the next four years.
The development comes amid reports that Femi Otedola plans to invest $100 million in the refinery project.
The Dangote Refinery, located in Lekki, Lagos, currently supplies a significant portion of Nigeria’s domestic fuel demand and is nearing the completion stage of its public listing process.
Recent figures released by the Nigerian Midstream and Downstream Petroleum Regulatory Authority showed that the refinery reached 99.12 per cent operational capacity as of April 2026.
