Dangote Petroleum Refinery and Petrochemicals has reported $22.48 billion in income and $4.73 billion in web revenue for the 9 months ended September 30, 2026, reversing a loss recorded through the corresponding interval final yr.
The firm’s unaudited monetary outcomes, launched in Lagos on Tuesday, confirmed that income rose by 144 per cent from $9.2 billion within the first 9 months of 2025, whereas web revenue in contrast with a lack of $117.2 million recorded a yr earlier.
Earnings earlier than curiosity, taxes, depreciation and amortisation (EBITDA) elevated practically ninefold to $5.52 billion from $627.6 million, reflecting greater refining throughput, improved operational reliability and stronger refining margins.
The outcomes additionally confirmed a major enchancment within the refinery’s money place, with money balances rising to $6.69 billion from $809.5 million in September 2025.
Operating money circulation climbed greater than tenfold to $3.68 billion from $364.7 million within the corresponding interval final yr.
The refinery additionally moved from a web debt place of $1.73 billion in September 2025 to a web money place of $650.8 million by September 2026, strengthening its monetary place because it pursues additional enlargement.
Its EBITDA margin rose to 24.56 per cent from 6.83 per cent, indicating improved profitability from its refining operations.
The outcomes additionally highlighted stronger efficiency within the third quarter. Revenue elevated from $13.91 billion on the finish of June to $22.48 billion by September, implying income of roughly $8.57 billion through the three months.
EBITDA rose from $2.60 billion on the half-year mark to $5.52 billion by September, indicating third-quarter earnings of about $2.92 billion.
Net revenue equally elevated from $1.82 billion on the finish of June to $4.73 billion in September, representing a further $2.90 billion through the third quarter.
Managing Director and Chief Executive Officer of Dangote Petroleum Refinery and Petrochemicals, David Bird, attributed the efficiency to elevated throughput, operational stability and stronger refining margins.
“Our third-quarter performance demonstrates the successful transition from commissioning and ramp-up activities to sustainable commercial operations,” Bird mentioned.
“Revenue increased to US$22.5 billion from US$9.2 billion in the corresponding period of 2025, while EBITDA rose to US$5.5 billion from US$627.6 million, reflecting higher throughput, improved operational reliability and stronger gross refining margins.”
Bird mentioned the outcomes demonstrated the energy of the refinery’s built-in enterprise mannequin and offered a basis for its subsequent part of development.
“These results reflect the strength of our integrated business model and provide a solid foundation as we progress through our IPO and execute our Vision 2030 growth strategy,” he acknowledged.
“With our expansion programme already underway, we remain focused on increasing refining capacity and broadening our product portfolio. We will continue to strengthen our distribution network across Africa and support energy security across the continent, while creating long-term value for stakeholders.”
The monetary outcomes come because the refinery pursues an preliminary public providing (IPO) aimed toward broadening African possession of the commercial advanced.
The firm just lately secured approval from the Securities and Exchange Commission to increase the cut-off date of the supply from October 13 to October 27, 2026, to accommodate investor curiosity and encourage wider participation throughout Africa.
The IPO contains 4.1 billion strange shares priced at ₦525 every, representing a suggestion valued at roughly ₦2.15 trillion.
President and Chief Executive of Dangote Industries Limited, Aliko Dangote, had disclosed that subscriptions to the supply had exceeded the corporate’s unique fundraising goal.
He mentioned the target was to allow extra Africans to take part within the refinery’s possession somewhat than merely increase extra capital.
The newest outcomes present traders with a sign of the refinery’s earnings, money technology and monetary place because it seeks to draw a broader shareholder base.
They additionally come because the Dangote Group advances its Vision 2030 enlargement plans, which embrace rising refining capability, increasing petrochemical manufacturing and strengthening distribution networks throughout African markets.
Located within the Lekki Free Zone in Lagos, Dangote Petroleum Refinery operates an built-in refining and petrochemical advanced with a crude distillation capability of 700,000 barrels per day.
The facility represents a serious funding in Africa’s power and industrial infrastructure, with the corporate in search of to broaden its operations and strengthen its place in regional power markets.
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