Major South African financial institutions are exploring potential investment opportunities in the Dangote Petroleum Refinery & Petrochemicals following a recent visit to the facility in Lagos, Nigeria.
The delegation included representatives from the Government Employees Pension Fund (GEPF), the Public Investment Corporation (PIC), and Alterra Capital Partners. During their tour, they inspected both the refinery complex and the Dangote Fertiliser plant.
GEPF, one of Africa’s largest pension funds, described the project as a clear example of Africa’s capacity to deliver large-scale industrial developments. Officials from the fund said the refinery demonstrates that world-class infrastructure can be built successfully within the continent.
The PIC also expressed strong interest, noting that the project aligns with its long-term strategy of investing in infrastructure and industrial growth across Africa. The institution manages hundreds of billions of dollars in assets and sees the refinery as a model for future collaboration between African investors and industrial developers.
According to the leadership of PIC, the project reflects a shift in how global and African investors view large industrial ventures on the continent, highlighting its potential for long-term economic transformation.
The President of the Dangote Group, Aliko Dangote, said plans are underway to list the refinery on the Nigerian stock market. He explained that this move is intended to allow more Africans to directly invest in and benefit from the project.
Dangote added that demand for refined products such as aviation fuel, polypropylene, and petroleum products continues to grow strongly, reinforcing the refinery’s importance in meeting regional energy needs.
He also noted that many African countries still rely heavily on imported fuel, and projects like the refinery are key to strengthening local production and reducing dependence on imports.
The South African investors indicated that discussions on possible partnerships are ongoing, as both sides explore ways to support industrial growth and long-term development across Africa.
