The planned public listing of Dangote Petroleum Refinery has triggered an unprecedented wave of investor interest across Nigeria and beyond, a Bloomberg report has stated.
According to the report published on Thursday, the proposed Initial Public Offering, expected to take place in September 2026, could raise as much as $2bn and become the largest stock market listing in Africa’s history.
The report said demand for shares in the refinery has already surged ahead of the offering, attracting interest from institutional investors, wealthy Nigerians, and first-time retail investors eager to gain exposure to what many consider one of the continent’s most strategic industrial assets.
Bloomberg reported that institutional investors have already indicated interest amounting to nearly $2bn even before the formal launch of the IPO, underscoring growing confidence in the refinery’s prospects and Nigeria’s capital market.
The offering is expected to value the refinery at about $40bn, although some market estimates place its potential valuation as high as $50bn.
