DANGOTE REFINERY TARGETS SEPTEMBER IPO LAUNCH
President of Dangote Group, Aliko Dangote, says the Dangote Refinery is targeting a September launch for its Initial Public Offering, IPO, following what he described as overwhelming investor demand running into billions of dollars.
Dangote disclosed this during a visit by the management of First Bank to the refinery complex in Lagos, where discussions centred on investment opportunities and the future growth of the refinery business.
Arise News Correspondent Oluwatosin Balogun filed in this report.
Even if the govt was no longer comfortable using 350,000 bpd crude supply to pay (over 5 yrs) for the remaining 12.8% stake, other options should have been used finance the stake. If the refinery lists at $50 bill, that $1.76 bill not invested would have been worth $6.25 bill.
The April 2026 Operational Performance Factsheet breaks down how Nigeria’s grid-connected power plants performed this month.
Highlights:
Plant Availability Factor (PAF): 31% showing that an average of 4,286 MW was available for dispatch out of 13,625 MW installed capacity.
Average Load Factor: 94% showing that 4,048 MWh/h of available capacity was utilised.
Top Energy Producers: Ihovbor_2, Jebba_1, and Kainji_1 stood out with strong availability and high utilisation levels.
Visit https://t.co/xQRN6ytloB for more details on the numbers shaping the NESI.
#NERC #OperationalPerformance #PowerPlants #NESI #EnergySector #Nigeria #ElectricityData #Factsheet #EnergyInsights #GridPerformance
Aliko Dangote, Africa’s richest person, is targeting a valuation of as much as $50 billion in a planned listing of his refinery business this year as higher oil prices boost its prospects, sources say https://t.co/SKJS69J4ig
@NurudeenDosu The Narrow Bank (TNB) some have been pressurizing the Fed to license in US without success is our PSB. A bank without NPL, earning high risk free rates from low cost deposits. PSB is about financial inclusion thru a “safe bank. A Telco can run the model https://t.co/kubwq1uyCQ
@Rufyb Please why do you say PSB license is restrictive ? Operators can accept deposits and transfers, issue ATM cards and invest in FGN securities. Don’t you think that is enough to run a profitable bank in Nigeria? https://t.co/CwClCUoeos
African industrialists and entrepreneurs are key drivers of economic growth and innovation in various sectors, including manufacturing, industrialisation, banking and technology.
As a result, they are crucial partners with governments in transforming our countries, especially in investment and employment creation.
Met Mr @AlikoDangote, founder of the Dangote Group and Africa's leading industrialist with interests in cement and sugar manufacturing, and oil refining, on the sidelines of the Africa We Build Summit, Nairobi.
We welcome his announcement at the summit that he was ready to partner with Kenya, Uganda and Tanzania in building an oil refinery in Tanga, Tanzania.
We thank Mr Dangote for believing in Africa and are committed to working with him to make this very important regional project a reality.