Dangote Petroleum Refinery and Petrochemicals reported $4.7 billion in web profit for the primary nine months of 2026, in distinction to a web lack of $117.2 million in the identical interval of final yr, in response to 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 presently enterprise 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 throughout 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 mentioned 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 total 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,” mentioned 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 outcome additionally helped the corporate transfer from a web debt place of $1.7 billion in September 2025 to web money of $650.8 million, strengthening its stability sheet.
On Monday, the refinery introduced it would 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 drastically from the sweeping gas shortages the US conflict in opposition to Iran has triggered worldwide, notably from elevated jet gas provide to Europe.
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