Dangote Refinery posts $4.7B profit, IPO extended to Oct 27 as Nigerians eye ownership stake

Dangote Refinery posted unaudited $22.5 billion revenue and $4.7 billion net profit for the nine months ended September 30, 2026—a stark turnaround from the $117.2 million loss in the same period of 2025. Revenue surged 144% from $9.2 billion, while EBITDA jumped nearly ninefold to $5.5 billion, reflecting higher throughput and operational reliability.

The Lagos-based refinery (Lekki Free Zone) also saw operating cash flow exceed $3.68 billion and net cash position reach $650.8 million, reversing a $1.73 billion net debt. These results come as its IPO—offering 4.1 billion shares at ₦525 each (₦2.15 trillion value)—was extended to October 27, 2026, to accommodate growing African investor interest.

With Africa’s largest refinery now demonstrably profitable and strengthening continental energy security, does this IPO present a strategic ownership opportunity for you, or do you prefer to leverage Nigeria’s improving energy outlook through other channels?

SOURCE: https://www.channelstv.com/2026/10/14/q3-dangote-refinery-posts-22-5bn-revenue-records-4-7bn-profit/