SEC Receives Application for Proposed $5bn Dangote Refinery IPO

The Securities and Exchange Commission has received an application for a proposed $5 billion initial public offering by Dangote Petroleum Refinery. If approved and completed, the offer could allow Nigerian retail and institutional investors to buy shares in the refinery. The final size, pricing and valuation of the IPO have not been confirmed. The refinery’s chief executive said the company wants broad local participation and described the planned offer as a “people’s IPO.” Proceeds from the proposed sale, alongside additional debt, would support an expansion targeted at raising refining capacity to 1.4 million barrels per day within three years. The listing could become one of Nigeria’s largest capital-market transactions and give investors direct exposure to a major industrial asset.

Use The App To Win ₦1m

Stories are shared by community members. This article does not represent the official view of NaijaWorld — the author is solely responsible for its content.