Dangote Refinery swings to N2.55trn profit in six months

Dangote Petroleum Refinery posted a profit after tax of about N2.55 trillion ($1.82 billion) in the first half of 2026, with revenues of about N19.47 trillion ($13.91 billion). Average utilization rose to 83.6%, and the gross refining margin strengthened to $24.50 per barrel. The company plans to invest about $14.3 billion to double its processing capacity to 1.4 million barrels per day by 2029.