Dangote Plans to Make Nigerians Part Owners of Refinery, Eyes Fuel Dominance in West Africa
Dangote Group, led by Aliko Dangote, intends to list its refinery on the Nigerian Exchange by 2026 to allow Nigerians to become part owners. The move is part of a strategy to deepen investor participation and align with global corporate governance standards.
The refinery, projected to double its capacity by 2027 and reach 200,000 barrels per day by 2030, aims to boost economic development and fuel supply in Nigeria and West Africa. The recent increase in fuel prices in Nigeria is attributed to Dangote Refinery selling petrol above the ex-depot price, impacting the market dynamics.
Plus234Feed summary based on reporting from Legit NG. Read the original report below.
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