Nigeria’s Dangote Refinery is set to be publicly listed on the Nigerian Exchange Limited following the resolution of supply challenges.
Announced by Aliko Dangote, CEO of project developer and operator the Dangote Group, the move to publicly list is centered on a broader strategy to increase the company’s valuation while generating positive investor interest in the facility.
Launched in May 2023, the Dangote Refinery has the capacity to produce up to 650,000 barrels per day (bpd), making the project the largest on the continent. Faced with supply challenges, the facility recently announced that it had secured six million barrels, with the production of 350,000 bpd expected by December 2023.
Dangote commented that, “We have resolved all the issues with crude supply. We are now ready to move forward with our plans to list the refinery on the Nigerian Exchange Limited.”
The Dangote Refinery is the world’s largest single-train facility.
