Dangote Petroleum Refinery and Petrochemicals reported $4.7 billion in internet profit for the primary nine months of 2026, in distinction to a internet lack of $117.2 million in the identical interval of final yr, in line with its newest unaudited outcomes launched on Tuesday.
The company attributed the earnings turnaround and improved key efficiency metrics to higher refining throughput, improved operational reliability, and stronger refining margins.
The refinery, which is at present endeavor a $1.6 billion preliminary public providing (IPO) to assist double present capability from 700,000 barrels per day to 1.4 million by 2030, recorded a 144 per cent leap in income to $22.5 billion in the course of the interval.
Earnings earlier than curiosity, taxes, depreciation and amortisation (EBITDA) – a efficiency indicator that measures the core profit of a enterprise – accelerated ninefold to $5.5 billion. At the identical time, the corporate stated EBITDA margin climbed to 24.6 per cent from 6.8 per cent.
Dangote Petroleum Refinery spotlighted the three months to September because the standout quarter because it posted $2.9 billion, representing 61.3 per cent of its complete post-tax profit for the evaluation interval, in the quarter, which additionally delivered $8.6 billion in income, equal to 38.2 per cent of the turnover of the nine months.
“Our third-quarter performance demonstrates the successful transition from commissioning and ramp-up activities to sustainable commercial operations,” stated CEO David Bird.
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“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,” he added.
The robust end result additionally helped the corporate transfer from a internet debt place of $1.7 billion in September 2025 to internet money of $650.8 million, strengthening its stability sheet.
On Monday, the refinery introduced it’s going to prolong its ongoing operations, initially deliberate to shut on 13 October, by two weeks to 27 October.
The shares are scheduled for itemizing on the Nigerian Exchange subsequent month.
The firm has benefited enormously from the sweeping gasoline shortages the US warfare in opposition to Iran has triggered worldwide, notably from elevated jet gasoline provide to Europe.
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