Otedola Set To Invest $100m In Dangote Refinery

Femi Otedola

The Chairman of First HoldCo, Femi Otedola, has announced plans to invest $100 million in Dangote refinery. He recently revealed his plans after leading top executives of First HoldCo to Dangote refinery, and Nigerians have been reacting.

Otedola’s planned investment is part of the $2 billion private placement Dangote refinery is targeting from private investors ahead of the initial public offering (IPO), which has no date yet.

Recall that on October 22, 2025, Dangote said that the refinery could sell up to 10 percent stake in the listing, which Bloomberg valued at about $5 billion.

While the actual date for the IPO is yet to be announced, Dangote Refinery is expected to conduct the public listing later this year.

WOW.