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Nigeria’s Dangote oil refinery swings to net profit ahead of IPO
73 billion a year ago to net cash of $650.6 billion in what would be Africa's biggest IPO, swung to a net profit in the first nine months of 2026 as revenue more than doubled, according to unaudited results released on Tuesday.
Built at a cost of about $20 billion on the outskirts of Lagos, the refinery has reshaped Nigeria's fuel market since it began operations in 2024.
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