In a historic milestone that redefines the boundaries of African commerce, Dangote Petroleum Refinery has shattered private sector corporate records by posting a staggering N19.13 trillion ($13.91 billion) in revenue for the first half (H1) of 2026.
Representing a jaw-dropping 121.46 percent surge compared to N8.638 trillion in the same period last year, this astronomical performance was primarily due to the Refinery’s transition to stable, full capacity production across all processing units from March 2026, together with performance testing rates of up to 700,000 barrels per day (bpd) achieved in June 2026, resulting in significantly higher throughput and sales volume as compared to the corresponding period in 2025.
Dangote Petroleum Refinery unprecedented half-year earnings not only rewrite Nigeria’s corporate history books but also set the stage for one of the most anticipated and valuable Initial Public Offerings (IPO) the continent has ever seen.
Out of a total 120.128 billion ordinary shares of Dangote Petroleum Refinery, Dangote Oil Refining Company Limited owns (79.086 billion units or 65.83 percent), Dangote Industries Limited (17.903 billion units or 14.904 percent), Greenview International Corporation (7.803 billion units or 6.496 percent), Nigerian National Petroleum Company Limited (8.186 billion units or 6.815 percent), Others (7.148 billion units or 5.950 percent).
“The Offer is intended to broaden public ownership of the enterprise and support its long-term growth strategy through the expansion of its refining…
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Read Full Article by Iheanyi Nwachukwu at businessday.ng
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