Dangote Refinery’s 1st Equity Raise Oversubscribed 4 Times Over
Dangote Petroleum Refinery and Petrochemicals (DPRP)’s first equity capital raise involving new investors beyond its legacy owners, was oversubscribed 3.7 times.
This was revealed on Thursday 14 August 2026 via a statement by the Africa Finance Corporation (AFC), which had led a group of strategic investors in the milestone $2.5 billion private placement.
The latest investment further deepens AFC’s enduring partnership with the Dangote Group, involving some of Africa’s most massive industrial projects.
AFC had previously served as Co-Coordinating Bank for a $3 billion syndicated loan for DPRP; it also recently received full repayment of its foundational $300 million senior term loan to Dangote Industries Limited, which supported the refinery’s development from the concept stage.
Speaking on the private placement, AFC President and CEO Samaila Dalhat Zubairu said the corporation’s participation reflect its unflinching confidence in Dangote refinery as one of Africa’s most significant industrial assets.
The capital raise comes as the Dangote Group works towards its plan to raise the refinery’s capacity from 650,000 to 1.4 million barrels per day by 2028.
