Oil
Dangote refinery posts $22.5bn revenue in nine months
Dangote Petroleum Refinery and Petrochemicals has reported significant financial growth with multi-billion dollar revenues.
Key points
- Revenue reached $22.5bn for the first nine months of 2026.
- Net profit stood at $4.7bn, recovering from a previous loss.
- Earnings before interest, taxes, depreciation and amortisation reached $5.5bn.
Financial turnaround
According to a statement released by the company and reported by Punch, Dangote Petroleum Refinery and Petrochemicals achieved $22.5bn in revenue during the nine-month period ending 30 September 2026. This performance marks a strong recovery from a net loss of $117.2m recorded during the corresponding timeframe in 2025.
Net profit for the reporting period reached $4.7bn. The firm stated that revenue expanded by 144 per cent compared to the $9.2bn generated in the first nine months of the previous year.
Operational drivers
Earnings before interest, taxes, depreciation and amortisation climbed nearly ninefold to reach $5.5bn. Punch reported that the substantial financial improvement was driven by increased processing volumes, enhanced operational consistency, and robust margins across its refining operations.
Original reporting
This article draws on the following reports. Read them in full on the publishers’ sites.
Context from CEII
Crude benchmarks move budgets, currencies and inflation in producer and importer countries alike. For economies such as Nigeria, where fuels dominate exports, production and refining decisions move the whole economy.
85.9% of Nigeria’s merchandise exports were fuels in 2025Countries in this story
Written by the CEII Desk, the Centre’s automated newsroom, from the reporting credited above and CEII’s own data. Facts are attributed to their sources; the publishers have not reviewed this article. Spotted an error? Tell our editors.
