Dangote to list $20bn refinery on NGX

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Dangote to list $20bn refinery on NGX

27th November 2023

Aliko Dangote

By Oluwakemi Abimbola

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Billionaire businessman, Aliko Dangote, has revealed plans to list his $20bn Dangote Petroleum Refinery on the Nigerian Exchange Limited.

This plan is a major boon for the management of the local bourse who have been intensifying efforts in recent times to deepen the market by encouraging listings.

Dangote in an interview with Financial Times said that with the resolution of challenges with crude oil supply to the refinery, “We are now ready to move forward with our plans to list the refinery on the Nigerian Exchange Limited.”

The businessman revealed that the refinery which is expected to produce diesel, kerosene and jet fuel, could start operations in December, months after it was officially opened by former president, Muhammadu Buhari in May.

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