Dangote’s $47B Refinery Gamble | Johannesburg News

Aliko Dangote, Africa’s richest man, is poised to make history with the continent’s largest-ever stock market listing—selling shares in his $47 billion oil refinery, a decade-in-the-making behemoth. The proceeds will fuel massive expansion, including doubling Nigeria’s refinery capacity and launching a new project in Kenya. Rising from selling candy as a kid, Dangote built an empire across cement, sugar, and salt—but his cement dominance has drawn fire for possible price gouging. While some hail him as an economic savior, others accuse him of wielding political power. Quietly humble despite his influence, he insists his refinery will end Nigeria’s fuel imports and combat monopoly fears by opening the company to public ownership. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Sources:https://www.sundaytimes.timeslive.co.za/news/2026-09-14-newsmaker-from-schoolyard-sweets-trader-to-africas-richest-man-dangote-eyes-his-biggest-deal-yet/ More coverage & latest updates:https://sources.thednn.ai/bbc83dacb1cbca61 Report issues to [email protected].