Dangote Petroleum Refinery and Petrochemicals has recorded a exceptional turnaround in its monetary efficiency, posting $22.5 billion in income and $4.7 billion in internet benefit for the 9 months ended September 30, 2026, when put next with a lack of $117.2 million within the corresponding length of 2025.
The unaudited monetary effects, launched in Lagos on Tuesday, printed that income surged by way of 144 consistent with cent from $9.2 billion within the first 9 months of 2025, whilst income earlier than hobby, taxes, depreciation and amortisation (EBITDA) jumped just about ninefold to $5.5 billion, reflecting upper refining throughput, stepped forward operational reliability and more potent refining margins.
The efficiency represents an important monetary milestone for the 700,000 barrels consistent with day refinery, which is lately enterprise a landmark Preliminary Public Providing (IPO) aimed toward broadening African possession of the economic complicated.
Probably the most placing construction is the refinery’s transformation from a loss-making operation right into a extremely successful endeavor, accompanied by way of a considerable strengthening of its stability sheet.
In line with the effects, internet source of revenue rose to $4.73 billion from a lack of $117.2 million a 12 months previous, whilst EBITDA margin expanded to 24.56 consistent with cent from 6.83 consistent with cent, reflecting a marked development within the economics of its refining operations. Running money drift additionally greater greater than tenfold to $3.68 billion, when put next with $364.7 million within the corresponding length of 2025, demonstrating the refinery’s rising capability to generate money from its core trade.
The corporate’s money balances climbed to $6.69 billion from $809.5 million, whilst its stability sheet moved from a internet debt place of $1.73 billion in September 2025 to internet money of $650.8 million by way of September 2026.
The transition to a internet money place is especially vital, indicating that the refinery’s money holdings now exceed its reported debt duties on a internet foundation, a construction that strengthens its monetary flexibility because it pursues additional enlargement.
The effects additionally level to accelerating monetary efficiency right through the 1/3 quarter of 2026. Earnings greater from $13.91 billion on the finish of June to $22.48 billion by way of September, implying third-quarter income of roughly $8.57 billion.
In a similar fashion, EBITDA rose from $2.60 billion within the first 1/2 of the 12 months to $5.52 billion on the finish of September, indicating that the refinery generated roughly $2.92 billion in EBITDA right through the 1/3 quarter by myself.
Web benefit additionally greater from $1.82 billion on the half-year mark to $4.73 billion by way of September, representing an extra $2.90 billion within the 3 months to September. Those figures underscore the tempo at which the refinery’s business operations have expanded following its commissioning and preliminary manufacturing ramp-up.
Managing Director and Leader Government Officer of Dangote Petroleum Refinery and Petrochemicals, David Chook, attributed the robust effects to better throughput, larger operational balance and stepped forward refining margins.
“Our third-quarter efficiency demonstrates the a hit transition from commissioning and ramp-up actions to sustainable business operations,” Chook mentioned.
“Earnings greater to US$22.5 billion from US$9.2 billion within the corresponding length of 2025, whilst EBITDA rose to US$5.5 billion from US$627.6 million, reflecting upper throughput, stepped forward operational reliability and more potent gross refining margins,” he added.
Chook mentioned the effects validated the energy of the refinery’s built-in trade fashion and supplied a cast basis for the corporate’s subsequent segment of expansion.
“Those effects replicate the energy of our built-in trade fashion and supply a cast basis as we development via our IPO and execute our Imaginative and prescient 2030 expansion technique,” he mentioned.
“With our enlargement programme already underway, we stay inquisitive about expanding refining capability and broadening our product portfolio. We can proceed to improve our distribution community throughout Africa and strengthen power safety around the continent, whilst developing long-term price for stakeholders,” he added.
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