Nigeria: Nigeria's Dangote Refinery Aims to Raise $5b With October Listing

[Daba Finance] Dangote Petroleum Refinery plans to raise about $5 billion in an initial public offering that could become Africa's largest listing, Reuters reported, citing a source with knowledge of the plan. The offer is expected to close in October, with Nigeria's Securities and Exchange Commission reviewing the app

Nigeria's Dangote oil refinery is set for Africa's biggest ever market listing as it seeks to raise about $5 billion through an initial ​public offering expected to conclude in October, a source with knowledge of the plan told Reuters.

For decades, Nigeria has been known as one of the world’s largest crude oil producers, yet it captured only a fraction of the wealth its natural resources created. The country exported crude, imported refined products, and watched other economies create industries, jobs and technological capabilities from the very reso