Dangote Refinery Closes Historic IPO after Drawing Investors from 120 Countries – Raises up to $2.1Bn

The refinery, located in Lekki, Lagos, is valued at $47 billion in the offering and is currently Africa’s largest refinery with a capacity of 650,000 to 700,000 barrels per day.Africa’s largest-ever Initial Public Offering has closed with unprecedented demand.Dangote Petroleum Refinery and Petrochemicals FZE, owned by Aliko Dangote, Africa’s richest man, closed its IPO on Tuesday, October 27, 2026, after six weeks on the market, the company has announced.