'Africa's Biggest IPO': Dangote Opens $20 Bn Refinery Shares To 10 Mn Buyers | Firstpost Africa

By Firstpost

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Watch this video as Firstpost explores how Aliko Dangote has launched the largest-ever public share sale in African history, offering ten million ordinary citizens a direct stake in his $20-billion Lagos mega-refinery. By pricing shares at just 525 Naira (around 40 cents) each, the "People's IPO" is engineered to bring drivers, cooks, and low-income earners directly onto the balance sheet of global energy. Now, African industrial wealth is expanding its footprint across the globe. After posting a massive $1.82-billion after-tax profit in the first half of 2026, the refinery is attracting interest from international players like Abu Dhabi’s state oil giant ADNOC, while stock exchanges from South Africa to Kenya move to give their investors access to the historic sale. As the Dangote Group plans a $14.3-billion expansion to boost capacity to 1.4 million barrels per day and eyes a second coastal refinery in Kenya, Africa is building an end-to-end refining power that spans from the Wes

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