The President of Dangote Industries Limited, Aliko Dangote, has announced that the initial public offering of the Dangote refinery is expected to open within the next 10 to 12 days.
Dangote disclosed the timeline on Thursday while addressing investors and analysts in Botswana, according to Reuters.
The planned listing is expected to attract significant investor interest, with the $20 billion refinery projected to raise about $5 billion through the offering.
If completed as anticipated, the transaction could rank among the largest public offerings ever recorded in Africa.
Dangote said the company intends to expand the refinery substantially as part of its long-term plans.
The facility currently has a designed capacity of 650,000 barrels of crude oil per day. It reached that level in February and has subsequently tested production above its official capacity, with output reaching about 700,000 barrels per day during testing.
The billionaire said the broader ambition is to more than double the refinery’s capacity, potentially taking production to 1.4 million barrels per day.
Such an expansion would further strengthen the facility’s position as a major refining hub for Nigeria and the wider African market.
The Dangote refinery has attracted considerable attention since beginning operations, given its scale and potential impact on Africa’s fuel supply.
The planned IPO is expected to provide additional capital for the business while giving investors an opportunity to participate in one of the continent’s largest industrial assets.
Dangote Industries has not publicly disclosed detailed profit-margin figures for the refinery.
However, refining margins have strengthened globally in recent periods, partly as geopolitical tensions in the Middle East have encouraged some buyers to seek alternative sources of refined petroleum products.
Beyond the refinery IPO, Dangote also outlined plans for another major capital-market transaction involving Dangote Cement.
The cement company is expected to pursue a secondary listing on the London Stock Exchange, potentially in October.
The move is aimed at giving the company access to a wider pool of international investors and increasing its visibility within global financial markets.
Dangote also disclosed plans to expand his group’s refining operations beyond Nigeria.
According to the businessman, the company is considering a new refinery on Kenya’s coast, with governments in East Africa expected to participate as partners.
READ MORE: 2027 Polls: INEC Warns AI Disinformation Threatens Election Credibility
The proposed facility would supply refined petroleum products to Kenya and neighbouring countries while reducing the region’s reliance on imported fuel.
Construction of the project could take as long as three years once development begins.
The Kenyan project would represent Dangote Group’s largest refining investment outside Nigeria and another major step in the conglomerate’s expansion across Africa.
The planned refinery IPO, Dangote Cement’s potential London listing and the proposed Kenyan refinery highlight the group’s broader strategy of raising capital and expanding its industrial footprint beyond Nigeria.
For investors, the developments could provide new opportunities to gain exposure to Dangote’s growing interests in energy, manufacturing and infrastructure across the continent.