Dangote Petroleum Refinery has announced a net profit of $4.73 billion for the initial nine months of 2026. This financial performance marks a substantial improvement compared to the $117.2 million loss sustained during the corresponding period in 2025.
The refinery's revenue more than doubled, climbing to $22.48 billion from $9.19 billion year-on-year. Furthermore, earnings before interest, taxes, depreciation, and amortisation (EBITDA) saw a notable increase, rising to $5.52 billion from $627.6 million. This growth is attributed to heightened crude processing volumes and improved refining margins, as reported by OilPrice.com.
This positive financial development occurs as the company prepares to launch what is anticipated to be Africa's largest initial public offering (IPO), seeking to raise $1.6 billion from investors.