… The fundraising could pave the way for a future public listing, which billionaire owner Aliko Dangote has previously signalled could happen later this year.
… In fact, Nigerian billionaire, Aliko Dangote who launched his oil refinery project in 2013 in a recent interview revealed that the project faced land issues for 5 years. …
… In fact, Nigerian billionaire Aliko Dangote, who launched his oil refinery project in 2013, revealed in a recent interview that the project faced land issues for 5 years. …
… More than 30 African leaders are attending the summit, along with Africa’s richest man, the Nigerian businessman Aliko Dangote, other top African industrial leaders and representatives from major French firms. …
Nigerian billionaire Aliko Dangote is looking at Kenya as the site of a 650,000-barrel-a-day oil refinery that he intends to build in East Africa, the Financial Times reported yesterday, citing an interview with him. …
Nigerian billionaire Aliko Dangote is looking at Kenya as the site of a 650,000-barrel-a-day oil refinery that he intends to build in East Africa, the Financial Times reported on Sunday, citing an interview with him. …
… Umar replaces Saidu Mohammed, who was appointed in December after their predecessors abruptly quit, amid a high-stakes clash between one agency and Africa’s richest man, Aliko Dangote. …
Nigeria's Securities and Exchange Commission ordered an immediate halt to marketing for a purported initial public offering by Dangote Petroleum Refinery & Petrochemicals, stating no application has been filed or approved. The regulator identified advertisements and investment solicitations across social media and other channels, warning that promotions could mislead investors and distort market expectations.
Nigeria's Securities and Exchange Commission ordered an immediate halt to marketing for a purported initial public offering by Dangote Petroleum Refinery & Petrochemicals, stating no application has been filed or approved. The regulator identified advertisements and investment solicitations across social media and other channels, warning that promotions could mislead investors and distort market expectations.
Nigeria's Dangote Petroleum Refinery is raising about $1 billion through private placement at $0.35 per share, valuing the company at approximately $39.1 billion. Proceeds will fund expansion and general corporate purposes as the 650,000-barrels-per-day refinery ramps up operations ahead of a potential public listing.
Nigeria's Dangote Petroleum Refinery has ramped up crude processing to 700,000 barrels per day during a performance test, exceeding its nameplate capacity of 650,000 bpd, with plans to expand to 1.4 million bpd within 30 months. The refinery, which began producing fuel in 2024, supplies domestic markets and exports to African countries, Europe, and beyond.
Ghana's Petroleum Hub Project, described as the nation's most ambitious undertaking, has faced land acquisition challenges since its inception in 2021. The article notes that major national projects in Ghana typically encounter community resistance over land issues, funding, and environmental concerns, and cites similar delays experienced by Nigeria's Dangote Refinery.
Ghana's Petroleum Hub Project, launched in 2021, has encountered land acquisition difficulties since inception. The article notes that major national projects routinely face community resistance over land issues, citing the Nigerian Dangote Refinery as a parallel example of similar delays.
French President Emmanuel Macron announced $27 billion in investments across energy, digital, agriculture and maritime sectors at an Africa Forward Summit in Nairobi, framing the effort as broadening France's partnerships beyond its traditional colonial-era ties and positioning investment as mutual rather than one-directional.
Nigerian billionaire Aliko Dangote is examining Kenya's Mombasa port as a site for a 650,000-barrel-a-day oil refinery he intends to build in East Africa, estimated to cost $15–17 billion. He cited Mombasa's larger, deeper port and Kenya's larger economy compared to Tanzania's Tanga, the alternative location being discussed by East African governments.
Nigerian billionaire Aliko Dangote is considering Mombasa, Kenya as the site for a new oil refinery, citing Kenya's larger economy and deeper port compared to Tanzania's Tanga, and estimated the project would cost $15 billion to $17 billion. Dangote said he would follow President Ruto's direction on the matter.
Dangote Petroleum Refinery and Petrochemicals, valued at $40B to $50B, will undergo a cross-border initial public offering on multiple African stock exchanges this year, becoming the continent's largest IPO and the first to list simultaneously across multiple African exchanges. The listing follows a meeting of the Nigerian Exchange Group and African Securities Exchanges Association members, positioning it as a test case for cross-border capital formation across African markets.
President Bola Tinubu nominated Rabiu Abdullahi Umar as chief executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, the second leadership change at the regulator in four months. The decision comes as Nigeria faces rising domestic energy prices partly driven by global oil price volatility following escalating conflict involving Iran.