Aliko Dangote's refinery IPO could add $23 billion to his wealth

Nigeria’s stock market is set to host its largest ever initial public offering as Dangote Petroleum Refinery and Petrochemicals prepares to list on the Nigerian Exchange. The flotation, scheduled for Monday, will mark the public debut of Aliko Dangote’s oil‑refining venture, a cornerstone of the conglomerate’s diversification strategy and a significant milestone for the country’s capital markets.

Analysts estimate that a successful offering could boost Dangote’s personal fortune by roughly two‑thirds, adding about $23 billion to his current net worth of $35 billion and bringing it close to $60 billion (£44 billion). The proceeds are expected to fund further expansion of the refinery’s capacity and support broader petrochemical projects, while also enhancing investor confidence in Nigeria’s burgeoning energy sector.