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CNBC Africa·4 min read·medium

Nigeria’s Dangote refinery aims to raise $5 billion with October listing, source says

R
Reuters
Nigeria’s Dangote refinery aims to raise $5 billion with October listing, source says
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Nigeria's Dangote oil refinery is planning a $5 billion IPO in October to fund expansion and replicate its success in Kenya. The refinery has become a major player in the African fuel market, particularly following supply disruptions caused by the Iran war.

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NAIROBI/ABUJA, Aug 4 (Reuters) – Nigeria’s Dangote oil refinery is set for Africa’s biggest ever market listing as it seeks to raise about $5 billion through an initial public offering expected to conclude in October, a source with knowledge of the plan told Reuters.

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