Dangote Refinery Reports N19.5 Trillion Revenue in 2026

In the first half of 2026, Dangote Petroleum Refinery and Petrochemicals reported a revenue of approximately N19.47 trillion ($13.91 billion) and a Profit After Tax of about N2.55 trillion ($1.82 billion). This performance marks a significant recovery from a $476 million loss in 2025.

The refinery's earnings before interest, tax, depreciation, and amortisation (EBITDA) reached $2.60 billion (N3.64 trillion), with an average utilisation rate of 83.6% during the period, up from 45% at the beginning of the year. The gross refining margin improved to $24.50 per barrel, compared to $13.70 in 2025.

The refinery is preparing for an Initial Public Offering (IPO) to raise about N2.26 trillion, with an offering price of N525 per share for 4.1 billion shares, running from September 14 to October 13. Additionally, the refinery plans to invest $14.3 billion to expand its capacity to 1.4 million barrels per day by 2029, consolidating its role as a key supplier in both domestic and international markets.