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Africa's richest man Aliko Dangote has selected Kenya's Lamu Island as the site for a $17 billion refinery that would transform East Africa's fuel supply.
Aliko Dangote has revealed that an oil mafia blocked his $20 billion refinery for five years, tried to push it into loan default during COVID, and mobilized 67,000 workers to build what Africa had never seen before.
Nigeria's pension regulator granted a one-off waiver allowing pension funds to invest in the Dangote Refinery IPO, as Dangote told South African pension chiefs the listing will democratise African wealth.
Aliko Dangote has shifted his preferred site for a $15-17 billion East African refinery from Tanzania's Tanga port to Kenya's Mombasa.
Aliko Dangote is considering listing his refinery on the Ethiopian Securities Exchange as part of a pan-African IPO push that could reshape capital markets across the continent.
Aliko Dangote is poised to collect about $485 million in dividends after Dangote Cement proposed a N45 per share payout for 2025.
Aliko Dangote says his refinery will supply up to 65 million litres of petrol daily, leaving surplus fuel for export.
Dangote Cement has become the first company to list commercial papers on the Nigerian Exchange, marking a major milestone for Nigeria’s capital market and expanding funding opportunities for large corporates.
Dangote Group signed a $400 million equipment agreement with China’s XCMG, aiming to speed refinery expansion and scale petrochemicals and fertilizer output.
Aliko Dangote has approached Congo’s president about backing a potash mining project as he looks to secure fertiliser inputs regionally.
Dangote has asked Nigeria’s EFCC to investigate former oil regulator Farouk Ahmed, escalating a dispute over alleged lavish spending and abuse of office.
Aliko Dangote plans to double the capacity of his Lagos refinery to 1.4 million barrels a day, aiming to make it a global refining leader. The billionaire also reaffirmed plans to list shares on the NGX and promised steady fuel supply during the festive season.
Nigeria’s richest man is preparing to list a slice of his refinery, and if the market agrees with his valuation, it could send his net worth soaring to levels few in the world have reached.
Dangote’s $20 billion refinery sent its first gasoline cargo to the U.S., marking Nigeria’s debut as a direct fuel exporter to America.