{"id":39907,"date":"2026-07-17T20:33:19","date_gmt":"2026-07-17T18:33:19","guid":{"rendered":"https:\/\/www.channelafrica.co.za\/channelafrica\/?post_type=news&#038;p=39907"},"modified":"2026-07-17T20:33:19","modified_gmt":"2026-07-17T18:33:19","slug":"nigerias-dangote-refinery-raises-2-5-bln-in-private-placement","status":"publish","type":"news","link":"https:\/\/www.channelafrica.co.za\/channelafrica\/news\/nigerias-dangote-refinery-raises-2-5-bln-in-private-placement\/","title":{"rendered":"Nigeria&#8217;s Dangote Refinery raises $2.5 bln in private placement"},"content":{"rendered":"<p>Nigeria&#8217;s Dangote Petroleum Refinery has raised $2.5 billion through a private placement as it \u200cseeks to strengthen its financing structure, company executive Devakumar Edwin confirmed this Friday.<\/p>\n<p>&nbsp;<\/p>\n<p>The capital raised ahead of a planned Initial Public Offering this year is expected \u2060to help fund the refinery&#8217;s expansion as it ramps up operations and expands in domestic and export fuel markets.<\/p>\n<p>&nbsp;<\/p>\n<p>The 650 000-bpd refinery, which started production in 2024, has ramped up output of diesel, jet fuel, naphtha and petrol, sharply cutting Nigeria&#8217;s \u200creliance \u2060on fuel imports.<\/p>\n<p>&nbsp;<\/p>\n<p>Last month, sources familiar with the deal told <em>Reuters<\/em> the refinery was offering 3 billion ordinary shares at $0.35 each, \u2060with demand already topping $2 billion.<\/p>\n<p>&nbsp;<\/p>\n<p>Investors were required to subscribe for at least 1 million shares, \u2060worth $350 000, with additional purchases in blocks of 500 000 shares. The shares will \u2060be subject to a 365-day lock-up, sources said.<\/p>\n<p>&nbsp;<\/p>\n<p>&#8211;Reuters&#8211;<\/p>\n","protected":false},"featured_media":29027,"template":"","meta":{"_acf_changed":false},"news-type":[44],"class_list":["post-39907","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-finance","entry"],"acf":{"short_description":"Dangote Petroleum Refinery has raised $2.5 billion through a private placement","published_date":"2026-07-17 20:24:21","news_description":"Dangote Petroleum Refinery has raised $2.5 billion through a private placement","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/39907","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":2,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/39907\/revisions"}],"predecessor-version":[{"id":39911,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/39907\/revisions\/39911"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/29027"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=39907"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=39907"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}