Country
Nigeria
Sector
Conglomerate — Oil & Gas, Cement, Fertiliser
Intelligence Type
Corporate
Status / Stage
Expanding
Confidence
Highly Confirmed
Latest Development
The refinery now processes 700,000 bpd, exceeding nameplate capacity. A $400m equipment deal with China’s XCMG was signed in February 2026 to accelerate the 1.4 million bpd expansion. The $2.5bn private equity placement completed in July 2026 was 3.7x oversubscribed. AFC led the investor group.
Company Profile
Company TypePrivate
HeadquartersLagos, Nigeria
Key ExecutivesAliko Dangote (President/Founder)
Key Developments
Announced $46bn investment programme (2026-2028) across refining, cement and fertiliser; secured $2.5bn private placement for refinery expansion; signed $4.2bn 25-year gas supply deal with China's GCL Group (March 2026) for an Ethiopia fertiliser complex; pursuing a Kenya refinery (Mombasa/Lamu, 700,000 bpd) and pre-IPO plans for the Nigerian refinery.
Commercial Opportunity Intelligence
Commercial ReadinessVery Early
Connected Intelligence
Source & Verification Trail
Last VerifiedJuly 2026
Source(s)Investors King; The Africa Report; Construction Review Online
Source DateJuly 2026