Nigeria's Dangote refinery has reduced its debt to $5.7 billion ahead of what is expected to be a record initial public offering, according to Moneyweb. The debt reduction was enabled by a swing to a profit of $1.82 billion in the six months through June, compared with a loss of $282.1 million a year earlier. The improved performance followed a ramp-up in production and higher sales at the Nigerian facility, which were boosted by the US-Iran war.

Dangote Refinery reported revenue of N19.13 trillion for the first half of 2026, a 121% increase driven by higher production and sales, according to Legit.ng. The stronger financial performance comes as the refinery prepares for a planned initial public offering valued at N2.15 trillion. The results are seen as bolstering the company's position ahead of the anticipated stock market listing, which would mark one of Nigeria's largest public offerings.

Dangote Refinery reported revenue of N19.5 trillion and a profit of N2.55 trillion over a six-month period, according to ThisDay Live. The company plans a $14 billion expansion aimed at doubling its capacity to 1.4 million barrels per day by 2029. The refinery's CEO warned that fuel shortages would persist beyond the Iran war, as the Middle East crisis widened with Iran-backed Houthis attacking four targets.

Dangote Refinery has announced a reduction in the price of Premium Motor Spirit (PMS) by N200 per litre within a month, indicating that the refinery has absorbed the recent surge in global oil prices. This marks another instance of price cuts from the refinery, suggesting a trend towards further moderation in fuel prices, according to Premium Times Business.

Filling stations in Nigeria, including MRS, AA Rano, and NIPCO, have decreased petrol prices following a reduction in the ex-depot price by Dangote Refinery to N1,075 per litre. This price cut has provided relief to consumers across the country.

Nigeria spent N952.15bn on fuel imports in the second quarter of 2026, according to Punch, despite the country's growing domestic refining capacity. The spending comes amid an ongoing feud between Dangote Refinery and fuel importers. The figure highlights continued reliance on imported petroleum products even as local refining operations expand, raising questions about the impact of the dispute between Africa's largest refinery and import marketers on the nation's fuel supply and costs.