@dailymail: Nigerian billionaire Aliko Dangote has launched Africa’s largest share sale to date with the initial public offering (IPO) of his oil refinery. The sale will allow ordinary Nigerians to become part-owners of the plant while raising money to fund its expansion. If fully subscribed, the IPO will raise 2.15 trillion naira ($1.6 billion). That could increase to about $2.1 billion if investors buy more shares than are initially offered. Built at a cost of about $20 billion on the outskirts of Lagos, the refinery has transformed Nigeria’s fuel market since it began operations in 2024. It now supplies most of the gasoline produced domestically in Nigeria and has benefited financially from supply disruptions linked to the war in Iran. Dangote is targeting ordinary Nigerians with the share sale. Investors can buy as few as 10 shares through fintech companies and other digital investment platforms. #africa #nigerian #news #IPO #oil

Daily Mail

Open In TikTok:

Region: GB

Tuesday 15 September 2026 09:29:34 GMT