Dangote’s Wealth Could Rise to $56.9bn After Refinery IPO

Aliko Dangote’s net worth could rise from about $35.5 billion to $56.9 billion if the Dangote Petroleum Refinery lists at the projected valuation on the Nigerian Exchange. The refinery plans to offer 4.1 billion shares at ₦525 each, implying a total valuation of about ₦63.07 trillion, or $48 billion. The offer is expected to open on September 14. Based on the proposed share structure, Dangote Group could retain about 83.4% of the refinery after the IPO. At the estimated valuation, that stake would be worth roughly $40 billion. If the market values the refinery at that level after trading begins, Dangote could move from 64th to around 36th on Bloomberg’s global billionaire ranking. The final figure will depend on the refinery’s actual market price after listing.

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