President of the Dangote Group, Aliko Dangote, has disclosed that the company’s refinery project has attracted billions of dollars in investment interest ahead of its planned Initial Public Offering scheduled for September 2026.
Dangote made this known during a visit by the Chairman of First HoldCo Plc, Femi Otedola, and senior management officials of the financial institution to the 650,000 barrels-per-day refinery located in Lekki, Lagos.
According to him, the level of interest from institutional and private investors has already exceeded the expected placement size ahead of the refinery’s listing on the Nigerian Exchange Limited.
“We have received a lot of demand running into billions of dollars. Our advisers are still reviewing the figures to determine the volume we will eventually take to the market,” Dangote said.
He also expressed optimism that the conglomerate would surpass its projected $100bn revenue target within the next four years.
The development comes as Otedola announced plans to invest $100m in the refinery project, further boosting investor confidence in the facility.
The refinery, regarded as one of Africa’s largest petroleum processing facilities, currently supplies a significant portion of Nigeria’s domestic fuel needs and is in the final stages of preparations for public listing on the NGX.
Recent figures released by the Nigerian Midstream and Downstream Petroleum Regulatory Authority indicated that the refinery attained 99.12 per cent operational capacity as of April 2026.
