Dangote Petroleum Refinery has recorded a major turnaround, posting revenue of ₦19.13 trillion ($13.91 billion) and an after-tax profit of $1.82 billion for the six months ended June 30, 2026, according to financial data released ahead of its planned Initial Public Offering.
The H1 2026 revenue represents a 121.46 percent increase from ₦8.638 trillion recorded in the same period of 2025. The refinery also reported Earnings Before Interest, Tax, Depreciation and Amortisation of $2.60 billion and gross profit of ₦3.432 trillion, compared to ₦225.195 billion in H1 2025. This contrasts sharply with the $476 million loss the company posted for the full year 2025.
The company attributed the strong performance to increased throughput following stable operations across processing units from March 2026, and performance testing of up to 700,000 barrels per day in June. Sales volumes and average realised prices for all major products also rose significantly. Petrol sales rose to 6.06 million metric tonnes from 3.09 million tonnes with average prices up to $975 per tonne from $723. Diesel sales climbed to 2.86 million tonnes from 1.76 million tonnes at $1,225 per tonne from $688. Jet fuel sales also increased to 3.02 million tonnes from 2.06 million tonnes with prices rising to $1,092 per tonne from $663.
With the improved numbers, Dangote Refinery is positioning for its IPO as it consolidates its role in Nigeria’s downstream sector. The company said the results reflect growing domestic demand and improved operational efficiency, and signal a new phase of profitability for the $20 billion facility.
