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 monopol...