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News 2026-10-26 13:19 UTC

Dangote refinery IPO to close

The share sale caps the company’s rapid two-year rise to become one of the continent’s most valued firms. Africa’s largest initial public offering is set to close on Tuesday, ending a 44-day window for investors to bid for a stake in the Dangote refinery in Nigeria. The share sale caps the company’s rapid two-year rise

News 2026-10-21 12:41 UTC

JPMorgan closes in on Nigeria merchant banking license

If successful, the New York-based lender would add considerable heft to the investment banking sector as the country seeks to attract more foreign capital. JPMorgan is on track to secure a merchant banking license in Nigeria after making a $38 million statutory deposit to the country’s central bank, Bloomberg reported.

News 2026-10-13 13:16 UTC

UPDATE 1 — Nigeria's Dangote oil refinery swings to net profit ahead of IPO

(Adds details and background in paragraphs 4-6) ABUJA, Oct 13 (Reuters) — Nigeria's Dangote Petroleum Refinery, which is seeking to raise $1.6 billion in what could be Africa's biggest IPO, swung to a net profit in the first nine months of 2026 as revenue more than doubled, according to unaudited results released on Tu

News 2026-09-18 12:32 UTC

'Call Dangote, we need a board meeting': Nigerian refinery IPO sparks meme frenzy

Dangote Refinery launched Africa's biggest-ever IPO this week Low entry threshold attracting small retail investors IPO has sparked cultural moment in Nigeria By MacDonald Dzirutwe LAGOS, Sept 18 (Reuters) — A rush by Nigerians to buy shares in Aliko Dangote's petroleum refinery is fuelling a wave of viral memes portra