Nigerian industrial giant Dangote Refinery closed its public share offering on Tuesday, October 27, 2026, recording massive global interest with investors participating from 120 countries, including all 54 African nations.
The public offering, which ran for six weeks, was originally scheduled to close on October 13. However, the subscription period was extended by two weeks to allow greater participation from retail and institutional investors across the African continent.
While the initial target was set at $1.6 billion, group Chairperson Aliko Dangote stated that the capital raised exceeded the original goal several times over.
The fresh capital will be used to double the processing capacity of the Lekki-based facility, which is already the largest oil refinery in Africa.
–ChannelAfrica–
