Dangote Refinery Gears Up for the Stock Market in 2026
Marina
Dangote Refinery Gears Up for the Stock Market in 2026
The CEO and Founder of Dangote Group, Aliko Dangote, has announced plans to list the group’s $20 billion oil refinery on the Nigerian Exchange (NGX) by the end of 2026, and possibly on the London Stock Exchange as well. This move would mark the first listing of its kind in Nigeria’s oil and gas downstream sector and could reshape the structure of Nigeria’s capital market and the oil and gas capital market sector.
The proposed listing signals a deepening of Nigeria’s capital market, potentially attracting global investors, injecting foreign exchange into the economy, and demonstrating that Nigeria can support large-scale industrial listings. For a capital market often dominated by banks, telecoms, and FMCGs, this could mark a shift toward strategic sectors like energy infrastructure.
Nigeria’s Bumpy Stock Market, But Gaining Confidence
The NGX All Share Index, which tracks the general health of the stock market. In 2024, it dipped as low as 96,579 points, but things changed in 2025. As investors gained more confidence, the market began to bounce back, reaching its highest in over two years.
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