Africa’s biggest refinery is heading to the market — and investors could soon own a slice of Dangote’s $20bn oil giant.
Washington D.C., April 16, 2026 — The Dangote Group has unveiled plans to sell a 10 per cent stake in its 650,000 barrels-per-day refinery through a Pan-African Initial Public Offering (IPO) in 2026.
President of the group, Alhaji Aliko Dangote, said the move aims to raise long-term capital and boost African investor participation, with dividends to be paid in dollars after listing.
He revealed that Stanbic IBTC Capital, Vetiva Advisory Services and FirstCap have been appointed as advisers for the deal.
Dangote said the IPO is part of a broader $40bn expansion plan spanning refining, fertiliser and mining projects across Africa, including new ventures in Congo and Zambia.
He added that the refinery — now at full capacity — is already making waves globally, supplying jet fuel to Europe and benefiting from rising demand amid Middle East supply disruptions.
Industry experts say the facility is proving highly profitable, with strong export performance across key petroleum products.
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