"Africa’s Largest Oil Refiner Set for Public Listing"

" Africa's Largest Oil Refiner Set for Public Listing \r\n\r\nNigeria\u2019s Dangote Group plans to list its company Dangote Petroleum Refinery & Petrochemicals, which runs Africa\u2019s largest refinery, on the Nigerian stock exchange in early 2025, the group\u2019s president Aliko Dangote said this weekend.\r\n\r\nThe group also plans to list another multi-billion-dollar subsidiary, Dangote Fertiliser Limited, on the domestic stock market in the first quarter of next year, Dangote, who is Africa\u2019s richest person,\u00a0 told \u00a0Nigerian media.\r\n\r\n\u201cOur export strategy aims to alleviate foreign exchange pressures on the economy,\u201d Dangote said, adding that \u201cWe hope to list the refinery and fertiliser on the NGX by the first quarter of 2025.\u201d\r\n\r\nThe Dangote refinery in Nigeria, Africa\u2019s biggest and newest crude processing facility, has been recently raising imports of U.S. oil crude oil, in a sign that American barrels are currently available at competitive prices overseas.\r\n\r\nSo far in 2024, the Dangote refinery, which opened for operations earlier this year, has already bought more than 16 million barrels of West Texas Intermediate crude, according to data compiled by\u00a0 Bloomberg \u00a0last week.\r\n\r\nThe refinery is primarily using Nigerian crude, but the share of U.S. crude is set to further rise in August and September, as Dangote has put out tenders for more U.S. crude supply, per data from tenders seen by Bloomberg.\r\n\r\nThe refinery began the production of fuels in January 2024,\u00a0 marking the start-up \u00a0of the plant that has seen years of delays.\r\n\r\nThe facility, which has a processing capacity of\u00a0 650,000 barrels per day\u00a0 (bpd),\u00a0will meet 100% of Nigeria\u2019s demand for all refined petroleum products and will also have a surplus of each of the products for export.\r\n\r\nThe Dangote refinery expects to export diesel to customers in Europe, as well as gasoline to Latin American and African markets. However, production of Euro V gasoline, the gasoline complying with Europe\u2019s emissions standards, is not expected to be produced until late 2024, according to analysts at Facts Global Energy."

"Africa’s Largest Oil Refiner Set for Public Listing"

GCB Bank Launches 20-second Instant Salary Advance Loan on Mobile App to Support Salaried WorkersAMP

GCB Bank Doubles Profit to GHS 843m; Total Asset Valuation Hits GHS 45.4bn in Q2 2025 AMP

BoG Warns of License Revocations Over Inward Remittance ViolationsAMP