Dangote Petroleum Refinery and Petrochemicals has secured a $1 billion underwriting programme to support its upcoming Initial Public Offering (IPO). This initiative, structured by Marob Strategies and Consulting DIFC Ltd and Lilium Capital Group, includes a completed and funded $600 million private placement and a $400 million underwriting commitment for the planned public listing. The refinery, which recently raised $2.5 billion in equity, is aiming for an IPO potentially valued at $5 billion. The current underwriting arrangement is intended to facilitate broader ownership and bolster Nigeria’s industrial capacity while awaiting regulatory approvals.