Africa’s richest man Aliko Dangote on Monday launched an IPO for his $19 billion Nigerian oil refinery, seeking $1.6 billion from retail investors across the continent. The offering values Africa’s largest…

Dangote has defended the figure and plans to expand capacity to 1.4 million barrels per day, potentially making it the world's largest refinery.

Nigerian billionaire Aliko Dangote launched a public share offering in his oil refinery, targeting as much as $2.1bn in Africa's biggest-ever IPO