Dangote Refinery Attracts Over $2 Billion Ahead of Planned IPO
President of the Dangote Group, Aliko Dangote, has revealed that investors have already indicated interest worth more than $2 billion ahead of the company’s planned private placement and public listing.
Dangote disclosed this on Wednesday during a visit by Femi Otedola, chairman of First HoldCo, and other top executives to the Dangote refinery and fertiliser plants located in the Lekki Free Trade Zone in Lagos.
The delegation toured several facilities within the complex, including the refinery, fertiliser plant and the jetty constructed by Dangote Industries for the reception of large vessels.
Speaking during the visit, Dangote said investors have already shown massive interest in the planned private placement exercise.
“When we say we’re going to do private placement, already we have people who have actually requested to buy, and we have an amount over almost $2 billion,” he said.
He, however, noted that the company may not sell shares up to that value during the private placement, adding that allocations would depend on the company’s final decision.
The planned private placement forms part of the refinery’s broader Initial Public Offering (IPO) strategy expected later this year.
The development comes weeks after reports emerged that the refinery could be valued at up to $50 billion ahead of its planned stock market debut.
Earlier in 2025, Dangote had disclosed that the company could sell up to 10 per cent equity stake during the listing process, a move estimated to be worth around $5 billion.
Although the exact date for the IPO has not yet been announced, the refinery is expected to proceed with the public listing before the end of the year.
Dangote also hinted that the company is considering a cross-border listing arrangement as part of efforts to attract wider international investment participation.
