Dangote Refinery: Nigerian Femi Otedola Invests $100M Before IPO

Author: Gildas AmoussouPublished on: May 21, 2026Country: Nigeria

Business & Economy

Dangote Refinery: Nigerian Femi Otedola Invests $100M Before IPO

Nigerian billionaire Femi Otedola announced a $100 million investment in the Dangote refinery during a visit to Lagos. This investment, financed by selling his stake in Geregu Power Plc, reflects investor confidence in the oil complex. The refinery, with a production capacity of 650,000 barrels per day, is set for an IPO in the second quarter of 2026, with a valuation between $40 and $50 billion.

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