Dangote refinery plans London and Lagos listings
Nigeria’s Dangote refinery plans to pursue dual listings on the London and Lagos stock exchanges, a senior executive announced on Tuesday. Aliko Dangote, the refinery’s builder and Africa’s richest man, hinted at a potential Nigerian listing by year-end. Devakumar Edwin, an executive at Dangote refinery, confirmed the dual listing strategy, noting that the Nigerian Stock Exchange alone lacks the capacity for the refinery’s scale.
The $20 billion refinery, Africa’s largest, is set to refine up to 650,000 barrels per day and reach full capacity by 2024. Recently, Dangote secured a crude supply deal with TotalEnergies and has other listed interests, including Dangote Cement and Dangote Sugar.
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