Post by Augustine Chiagozie (@pabloexchange)

💼 Dangote Refinery targets $5bn IPO in October

Dangote Petroleum Refinery is planning a $5 billion initial public offering in October, in what could rank among the largest stock market listings in African history.

The refinery, currently operating at 650,000 barrels per day, aims to use the proceeds to expand capacity to 1.4 million barrels per day — more than doubling its current output.

The Lagos-based facility has been central to Nigeria's efforts to reduce dependence on imported refined petroleum products since it began operations.

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