Lagos (AFP) – Nigerian billionaire Aliko Dangote on Monday launched what is slated to be Africa's biggest initial public offering (IPO), aiming to raise $1.6 billion in part to expand his mega oil refinery into the world's largest.
The Lagos-based refinery, which began operations in 2024, has a capacity of 700,000 barrels per day, exceeding domestic demand in Nigeria, Africa's most populous country.
