The Dangote Petroleum Refinery is seeking to raise up to $1 billion from private investors to support its expansion plans and strengthen its operations as it continues to grow its presence in the energy sector.

The fundraising, which is expected to be conducted through a private debt sale, comes as the refinery ramps up production and explores opportunities to expand its infrastructure and market reach. Reports indicate that investor interest in the offering has been strong, reflecting confidence in the refinery’s long-term prospects.

Located in Lagos, the refinery has emerged as a major player in Nigeria’s downstream oil industry since commencing operations. The facility supplies petrol, diesel, aviation fuel and other refined petroleum products to both domestic and international markets.

Industry analysts say the additional capital could be used to finance new projects, improve logistics and storage capacity, and support the refinery’s broader growth strategy. The move is also seen as part of efforts to strengthen the company’s financial position ahead of a potential future public listing.

The refinery, owned by billionaire businessman Aliko Dangote, has played a significant role in reducing Nigeria’s reliance on imported fuel while boosting exports of refined petroleum products across Africa and beyond.

With demand for refined products rising across the region, the planned funding raise is expected to support the refinery’s ambition to expand capacity and consolidate its position as one of the world’s largest single-train refining facilities.