Dangote Petroleum Refinery and Petrochemicals reported $4.7 billion in internet benefit for the primary 9 months of 2026, by contrast to a internet lack of $117.2 million in the similar duration of ultimate 12 months, consistent with its newest unaudited effects launched on Tuesday.
The company attributed the profits turnaround and progressed key efficiency metrics to raised refining throughput, progressed operational reliability, and more potent refining margins.
The refinery, which is lately enterprise a $1.6 billion preliminary public providing (IPO) to assist double present capability from 700,000 barrels in step with day to one.4 million through 2030, recorded a 144 in step with cent soar in income to $22.5 billion throughout the duration.
Profits prior to passion, taxes, depreciation and amortisation (EBITDA) – a efficiency indicator that measures the core benefit of a industry – speeded up ninefold to $5.5 billion. On the identical time, the corporate mentioned EBITDA margin climbed to 24.6 in step with cent from 6.8 in step with cent.
Dangote Petroleum Refinery spotlighted the 3 months to September because the standout quarter because it posted $2.9 billion, representing 61.3 in step with cent of its complete post-tax benefit for the assessment duration, within the quarter, which additionally delivered $8.6 billion in income, similar to 38.2 in step with cent of the turnover of the 9 months.
“Our third-quarter efficiency demonstrates the a hit transition from commissioning and ramp-up actions to sustainable business operations,” mentioned CEO David Hen.
READ ALSO: Dangote Petroleum Refinery extends IPO amid strong investor demand
“With our growth programme already underway, we stay fascinated by expanding refining capability and broadening our product portfolio. We will be able to proceed to improve our distribution community throughout Africa and improve power safety around the continent, whilst growing long-term worth for stakeholders,” he added.
The sturdy outcome 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, at the beginning deliberate to near on 13 October, through two weeks to 27 October.
The stocks are scheduled for record at the Nigerian Trade subsequent month.
The corporate has benefited a great deal from the sweeping gasoline shortages america warfare in opposition to Iran has brought about international, particularly from larger jet gasoline provide to Europe.
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