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Dangote Refinery Appears on Times Square Billboard as N2.15tn IPO Continues

The Dangote Petroleum Refinery has taken its “Made in Nigeria” message to one of the world’s most recognisable advertising locations, with the company featured on a billboard at Times Square in New York, United States.

The display, seen on Friday, featured images of the Lagos-based refinery alongside the message, “Made in Nigeria. Built for the world.”

Aliko Dangote, President of Dangote Industries Limited, and David Bird, Chief Executive Officer of the Dangote Petroleum Refinery, were pictured with other company executives in front of the billboard.

The Times Square display comes as the refinery continues with its initial public offering (IPO), through which the company is seeking to raise capital and expand public ownership.

The refinery launched the IPO on September 14, offering 4.1 billion ordinary shares at N525 per share.

At the offer price, the shares represent a total offer value of approximately N2.15 trillion if fully subscribed.

The public offer is part of Dangote Refinery’s plans to broaden its ownership structure by allowing investors to acquire shares in the business.

The refinery, located in the Lekki Free Zone in Lagos, has a nameplate capacity of 650,000 barrels per day, making it one of the largest single-train petroleum refineries in the world.

The Times Square campaign places the Nigerian refinery before an international audience as the company continues efforts to position its operations and products for the global energy market.

Photos from the display showed Dangote and members of the refinery’s management team posing in front of the advertisement in New York.

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Ogunsola Gbenga is the Founder and Publisher of NaijaWide Media, the publisher of TheNaijaWide.ng, an independent Nigerian digital news publication covering Nigerian, African and international news.

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