Africa's richest man's refinery can't get enough Nigerian crude, minister admits
Nigeria's finance minister says the country does not have enough crude to supply Aliko Dangote's giant Lagos refinery, forcing the billionaire to import oil.
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Nigeria's finance minister says the country does not have enough crude to supply Aliko Dangote's giant Lagos refinery, forcing the billionaire to import oil.
Pressure is building in Kenya for the government to publish the terms of Aliko Dangote's $16 billion Lamu refinery, including taxpayers' share.
Ogun State's $7 billion port deal with DP World has raised questions about Aliko Dangote's 80% stake in the existing Olokola free trade zone venture.
Uganda’s markets regulator has opened Aliko Dangote’s $1.6 billion refinery IPO to high-net-worth and professional investors, days before the offer closes on Oct. 13.
Kenya's Capital Markets Authority has approved a depositary receipt route for Kenyan investors to buy into billionaire Aliko Dangote's $1.6 billion refinery IPO, the first such deal under its GDR rules.
Forbes values Aliko Dangote at $51.7 billion, more than the combined wealth of South Africa's eight billionaires, while Bloomberg's index puts his fortune at $35.7 billion.
Kenya's High Court has certified as urgent a petition seeking disclosure of the money, land and guarantees behind the state's stake in Dangote's Lamu refinery.
Aliko Dangote's refinery has stopped selling petrol to Nigerian marketers who import fuel, accusing them of blending its product with lower grades
Aliko Dangote met Egyptian President Abdel Fattah el-Sisi to discuss investing in Egypt's energy, fertilizer and cement sectors, and asked for state support.
Aliko Dangote says local fuel marketers and international oil companies are behind protests against his $16 billion refinery in Lamu, Kenya.
Kenya is weighing a 10% stake worth about $500 million in Dangote's Lamu refinery, part of a 30% share offered to East African governments.
A 19.7% rally in Dangote Cement lifted Aliko Dangote's listed stakes by $2.31 billion in the third quarter, separate from Forbes' refinery revaluation.
Aliko Dangote is targeting 10 million retail investors for his refinery's $1.6 billion IPO, nearly four times the 2.7 million Nigerians who currently trade shares.
Dangote's refinery ran at 105% of capacity in August, supplying 71% of Nigeria's petrol and cutting diesel imports by more than 80%.
Aliko Dangote and William Ruto broke ground at Lamu on Sept. 30 on a refinery designed to process 700,000 barrels of crude a day by 2029.
Nigerian billionaire Aliko Dangote promises to list his planned East African refinery on the Nairobi bourse, a day before breaking ground in Lamu.