The Dangote Refinery is targeting a future listing in the United States after plans to double its processing capacity to 1.4 million barrels per day (bpd), President of Dangote Industries Limited (DIL), Aliko Dangote, has said.
Dangote disclosed this during an interview with CNN, where he discussed the refinery’s expansion plans and its long-term ambition to attract international investors.
He said the facility is expected to reach the 1.4 million bpd capacity within the next two and a half years, after which the company would pursue a listing in the US.
According to Dangote, the expansion would make the refinery the largest in the world and would be accompanied by a major petrochemical complex. He also expressed confidence that the enlarged operation would attract significant investor interest.
The planned expansion comes as the refinery prepares for an initial public offering (IPO) in Nigeria. The company plans to offer more than four billion shares, with proceeds expected to support its growth and expansion programme.
The Lagos-based refinery currently has a processing capacity of about 700,000 bpd and is targeting 1.4 million bpd by 2029. If achieved, the expansion would significantly increase its position in the global refining industry.
