Standard Bank Supports Dangote Refinery IPO and Expansion in Nigeria

Standard Bank Group executives visited the Dangote Petroleum Refinery and Fertiliser complex in Ibeju‑Lekki, Lagos, reaffirming the bank’s commitment to back the planned listing of the refinery. Chief Executive Sim Tshabalala said Standard Bank will play a leading role in the refinery’s upcoming initial public offering and will provide financial advisory and balance‑sheet support for future expansion across Africa.

The refinery has recently exceeded its design capacity, completing test runs at 700,000 barrels per day, above the 650,000‑bpd nameplate. Officials highlighted the project’s contribution to Nigeria’s foreign‑exchange earnings, balance‑of‑payments performance and energy security, describing it as a “wonder of the world” and a transformative industrial asset.

Both parties see the partnership as a long‑term collaboration to deepen industrial development throughout the continent.