Dangote Petroleum Refinery has announced plans to list its shares on both the London Stock Exchange (LSE) and the Nigerian Exchange (NGX) Limited. According to Devakumar Edwin, Executive Director of Dangote Group, the refinery will be listed on both exchanges due to the NGX’s limited capacity to handle the listing exclusively.
The refinery, which has already begun producing diesel and aviation fuel, plans to start producing petrol by June. With a daily capacity of 650,000 barrels, the refinery aims to meet Nigeria’s fuel demands and reduce reliance on imports. In fact, Dangote has stated that Nigeria will no longer need to import petrol by June.
Furthermore, Dangote Refinery plans to purchase 24 million barrels of crude oil from the United States over the next year.
This move is expected to strengthen the refinery’s operations and contribute to Nigeria’s economic growth. The listing on both the LSE and NGX will provide investors with opportunities to participate in the refinery’s growth and success.
