Africa’s richest man, Aliko Dangote, is preparing another ambitious expansion of the Dangote Petroleum Refinery that could transform it into the largest refining complex in the world, marking a major milestone for Nigeria’s oil and gas industry.
After successfully launching Nigeria’s only operational oil refinery in 2024, billionaire businessman Aliko Dangote has set his sights on East Africa as the next location for another mega refinery project, according to recent reports.
Africa’s richest person, Aliko Dangote, is targeting a $50 billion valuation for his flagship refinery business ahead of a planned stock market listing in Nigeria later this year, people familiar with the matter have told Bloomberg.
Aliko Dangote, Africa’s richest individual, announced that the supply of diesel from his Dangote Refinery has caused a roughly 60% decrease in the commodity’s price in the local market.