Dangote Industries Limited (DIL) President Aliko Dangote says the Dangote Refinery will seek a listing on a United States stock exchange after expanding its production capacity to 1.4 million barrels per day (bpd).
Mr Dangote disclosed the plan during an interview with CNN on Thursday, saying the expansion is expected to be completed within the next two and a half years.
He said the planned expansion would make the refinery the largest of its kind in the world, alongside a major petrochemical complex.
“After we have gone to 1.4 million bpd in the next two and a half years, we will now list in the US,” Mr Dangote said.
He added that the listing could attract other investors, given the scale of the refinery and its associated petrochemical operations.
“I believe a lot of other people too will join, because by that time, we’re going to be the biggest refinery ever in the history of the world, with a massive petrochemical complex,” he said.
The 650,000 bpd Dangote refinery, located in the Lekki area of Lagos, is currently Africa’s largest single-train refinery.
The planned expansion would more than double its current capacity and further strengthen its position in the global oil and petrochemical industry.
A US stock market listing would also potentially give the company access to a broader pool of international investors and capital as it seeks to finance its long-term expansion plans.
The Dangote refinery began operations in 2024 and has progressively increased production as it moves towards full capacity.
Mr Dangote’s latest announcement comes amid growing efforts by the company to expand its refining and petrochemical operations and position the facility as a major supplier to international markets.
