EconomyNigeria’s Dangote refinery launches blockbuster IPO

Nigerian billionaire Aliko Dangote has launched the biggest share sale ever seen on the African continent, listing 4.1 billion shares in his Lagos refinery. He described it as a “people’s IPO” intended to give Nigerians a chance to share in the plant’s wealth potential, with trading expected to begin in November. Global oil prices also kept rising after Houthi attacks forced Saudi Arabia to shut its East-West oil pipeline.