Published: May 12, 2026

By: Nigeria TV Info

Aliko Dangote, Africa’s richest person, is targeting a $50 billion valuation for his flagship refinery business ahead of a planned stock market listing in Nigeria later this year, according to people familiar with the matter.

The proposed listing of the 650,000-barrels-per-day Dangote Refinery is expected to mark one of the most significant capital market deals in Nigeria’s history, potentially reshaping investment opportunities in the country’s energy sector.

Sources familiar with the development told Bloomberg that the company intends to sell up to a 10 per cent stake, a move that could raise approximately $5 billion from investors if the targeted valuation is achieved.

The refinery, widely regarded as one of Africa’s largest industrial projects, has already transformed Nigeria’s fuel supply chain by significantly reducing the country’s dependence on imported petroleum products. Since operations began, the facility has played a crucial role in stabilising domestic fuel availability and easing pressure on foreign exchange spent on imports.

A senior executive at the Dangote Group reportedly confirmed to Bloomberg that the projected $50 billion valuation reflects the company’s internal expectations. However, the executive declined to provide further details on the timing, pricing, or final structure of the planned public offering.

Industry analysts believe the anticipated listing could attract both local and international investors, given the refinery’s strategic importance to Nigeria’s economy and the wider African energy market. If successful, the initial public offering (IPO) would stand among the largest corporate listings ever seen in Africa.

The planned stock market debut also comes at a time when Nigeria is seeking to deepen investor confidence and expand participation in the domestic capital market amid ongoing economic reforms.