Dangote Refinery IPO will be ‘landmark’ for Nigerian exchange

Dangote Refinery’s $4 billion IPO, valued at $40 billion, is poised to be Africa’s largest listing and a landmark for Nigeria’s stock exchange. The Nigerian Stock Exchange CEO, Temi Popoola, highlighted its potential to attract global investment and strengthen the exchange’s role in economic transformation. The refinery, now operating at full capacity and leading aviation fuel exports, has driven market growth and a 51% return for the exchange’s index in 2025.