Aliko Dangote to Take Africa’s Largest Refinery Public by 2026

 By Chukwuebuka Chukwuemeka

Nigeria’s industrial titan, Aliko Dangote, has announced his ambitious plan to list the Dangote Refinery, the continent’s largest oil refinery on the stock market by the end of 2026. This strategic move aims to broaden its shareholder base and alleviate monopoly concerns surrounding its dominance in African fuel markets.

                   Aliko Dangote

Built at a cost of $20 billion, the refinery began operations last year and has a massive capacity of 650,000 barrels per day, producing a diverse range of fuels, including aviation fuel, diesel, gasoline, and naphtha.

At the African Export-Import Bank annual meeting in Abuja, Dangote also revealed plans to list the company’s urea fertilizer plant capable of producing 2.8 million tonnes per annum, on the Nigerian stock exchange this year.

“It’s important to list the refinery so that people will not be calling us a monopoly… They will now say we have shares, so let everybody have a part of it,” Dangote emphasized.

This dual-listing strategy, potentially spanning both the London and Lagos exchanges, is part of a broader effort to attract institutional investors such as pension funds and unlock shareholder value.

Dangote’s wider vision includes:

  • Generating $30 billion in revenue by 2026.
  • Expanding urea fertilizer exports to surpass Qatar within four years.
  • Propelling Africa to fertilizer self-sufficiency within 40 months.

However, analysts caution that achieving these goals will require major improvements in transport infrastructure and port capacity, given Nigeria’s logistical challenges in supporting such large-scale industrial growth.

 

 Why This Matters

A public listing could democratize ownership of Africa’s largest refinery, engaging domestic and international investors. Broad share distribution may help alleviate local concerns about monopoly power. Continental Ambitions: This reflects Dangote’s larger vision to enhance Africa’s agroindustrial and petrochemical self-reliance.

#AlikoDangote #DangoteRefinery #AfricaBusiness #OilRefinery #StockMarket #InvestAfrica #FertilizerRevolution #EconomicGrowth

 

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