Dangote Refinery Secures Landmark US$2.5bn Equity Placement in Africa’s Largest Disclosed Private Raise

Dangote Refinery Secures Landmark US$2.5bn Equity Placement in Africa’s Largest Disclosed Private Raise
Oversubscribed 3.7 Times as Global and African Investors Back Expansion Drive
Dangote Petroleum Refinery and Petrochemicals FZE (DPRP) has successfully completed a landmark private equity placement that raised approximately US$2.5 billion in new equity, marking a major milestone in the company’s growth strategy and the development of Africa’s capital markets.
Announced on July 23, 2026, the transaction was 3.7 times oversubscribed relative to the initial offer size, resulting in the issuance and allotment of approximately US$2.5 billion in new equity.
The transaction is believed to be Africa’s largest publicly disclosed primary equity private placement by value. It also represents DPRP’s first private equity capital raise involving external investors beyond its legacy shareholder base, marking a significant step in the Enterprise’s long-term funding strategy.
Proceeds from the placement will support the continued expansion of the refinery and petrochemical complex, strengthen the company’s capital structure and provide additional financial flexibility to pursue future growth opportunities.
The offering attracted strong participation from a diverse group of international and African institutional investors, sovereign-related investment vehicles, development finance institutions and long-standing strategic partners. Participants included the African Finance Corporation (AFC) and India Infra Buildco, an investment vehicle facilitated by the African Export-Import Bank (Afreximbank), alongside a broad mix of institutional and individual investors.
The strong demand underscores deep and diversified investor confidence in DPRP’s long-term strategy and growth prospects.
Aliko Dangote, GCON, President and Chief Executive Officer of Dangote Industries Limited and Chairman of DPRP, described the transaction as a strategic milestone for the company.
“This is a strategic step to deepen and further industrialise the Enterprise’s shareholder base, while raising capital to complement our internal cash flows and external funding, as DPRP advances its expansion agenda.”
He added that the transaction further demonstrated the company’s commitment to developing domestic refining and petrochemical capacity across Africa.
“This further demonstrates our profound commitment to developing domestic refining and petrochemical capacity – reducing Africa’s reliance on imported refined products and strengthening the continent’s energy security,” he said.
David Bird, Managing Director and Chief Executive Officer of Dangote Petroleum Refinery & Petrochemicals, said the exceptional demand for the offering reflected strong investor confidence in the company.
“The exceptional demand we saw is a testament to our operational excellence, execution capacity and investor confidence in DPRP’s leadership,” he noted.
With the successful completion of the private placement, DPRP is positioned to advance its long-term growth strategy while contributing to Africa’s energy security through world-scale refining and petrochemical capacity.
The company said the strong investor response further reinforces confidence in its strategy and strengthens its platform for long-term value creation.
DPRP also acknowledged the critical support of its professional advisers in successfully delivering the transaction.
For further enquiries:
Investor Relations
Dangote Petroleum Refinery and Petrochemicals FZE
Email: ir.refinery@dangote.com