President of Dangote Group, Aliko Dangote, has disclosed that the Dangote Refinery is preparing to launch its Initial Public Offering (IPO) in September 2026.
Dangote made the announcement on Wednesday during a visit to the refinery by Femi Otedola and top executives of First HoldCo Group.
The delegation toured the refinery and fertiliser plants located within the Lekki Free Trade Zone in Lagos.
Speaking during the visit, Dangote said there was significant investor interest in the refinery ahead of the planned public offering.
“There is quite a lot of demand in terms of people pushing us, saying we want to buy, we want to buy,” he said.
“That is the reason why we are trying to make sure that by September, we will be out there in the market to sell the IPO. But we have a lot of demand in billions of dollars.”
The billionaire businessman, however, noted that advisers were still working on the company’s valuation and target listing price.
“I actually don’t know. The advisers are still doing that. They are still evaluating to see how much we are going to go into the market with,” Dangote stated.
He also revealed that requests from potential investors had already surpassed the previously proposed $2 billion private placement.
According to him, the company intends to broaden ownership through the IPO and give more Nigerians the opportunity to invest in the refinery project.
Dangote described the refinery as one of the most ambitious industrial projects globally, adding that the facility is projected to become one of the largest refining operations in the world.
He further stated that based on current projections, the refinery business could eventually generate more revenue than any other company in Africa.
