Nigerian oil giant Dangote seeks to raise $1 billion

Author: AfricaNewsPublished on: June 12, 2026Country: Nigeria

Business & Economy

Nigerian oil giant Dangote seeks to raise $1 billion

The Dangote Petroleum Refinery is seeking to raise nearly $1 billion through a private placement, valuing the company at about $39.1 billion. The offer involves 3 billion ordinary shares at $0.35 each. Investor demand already exceeds $2 billion. Funds will be used for expansion and general operational needs.

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