Africa's richest man, Aliko Dangote, has disclosed that his $20 billion worth of oil refinery 'Dangote Refinery' will soon be listed on the Nigerian Exchange Limited (NGX) to attract investors into the billion-dollar company.
This great step taken by Dangote is a significant move for Dangote Industries, Africa’s biggest conglomerate.
Dangote disclosed the refinery listing during an interview section with the Financial Times; he added that the company has gone through many challenges related to the supply of crude oil, paving the way for the refinery’s listing.
The listing on the NGX will boost investor confidence and open more growth opportunities for Dangote Industries.
“We have resolved all the issues with crude oil supply,” Dangote stated. “We are now ready to move forward with our plans to list the refinery on the Nigerian Exchange Limited.”
The Dangote Refinery is Africa’s largest single-train refinery, with 650,000 barrels per day capacity. The refinery is expected to transform Nigeria’s oil and gas sector, which will shorten Nigeria’s reliance on imported fuel and boost export revenue.
Read more: https://www.investingport.com/dangote-refinery-to-list-on-nigerian-exchange-limited/