Dangote refinery posts $4.73 billion profit - OilPrice
Nigeria's Dangote refinery reported a significant turnaround with a $4.73 billion profit in the first nine months of 2026. The company is now preparing for a major IPO to fund further production capacity expansion.
Why it matters
The refinery's success is a major development for African energy independence and global fuel supply chains, particularly as it increases exports to Western markets.
--> The Dangote refinery in Lagos, Nigeria, posted $4.73 billion in net profit in the first nine months of 2026, compared with a loss of $117.2 million in the same period last year. OilPrice reports .
Dangote Petroleum Refinery’s revenue for the period more than doubled, rising from $9.19 billion to $22.48 billion. EBITDA increased from $627.6 million to $5.52 billion. The publication attributes this to increased oil processing and higher refining margins.
The company’s operating cash flow through September amounted to $3.68 billion, compared with $364.7 million a year earlier. Cash holdings increased to $6.69 billion.
At the end of the period, the refinery had $650.8 million in net cash. A year earlier, its net debt was estimated at $1.73 billion.
More current news is available on the UA.News Telegram channel Telegram .
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