Investment Corporation of Dubai, CC BY 3.0 , via Wikimedia Commons Business by Sidnee Michelle Africa’s Richest Man Aliko Dangote Secures Record $2.5B Investment Ahead Of Refinery IPO The fundraising attracted several institutional investors, including the Africa Finance Corporation and African Export-Import Bank. Africa’s richest person, Aliko Dangote, has secured a record $2.5 billion private capital investment for the Dangote Petroleum Refinery and Petrochemicals, providing new funding to expand the facility and advance plans for a future initial public offering, Business Africa reports. In a statement, Dangote Industries said the investment underscores confidence in the company’s long-term vision for expanding fuel production across Africa. “This capital raise demonstrates global investor confidence in our vision to transform Africa’s energy landscape through world-class infrastructure,” the company said. Nigeria is one of Africa’s largest crude oil producers but has historically relied on imported refined petroleum products due to limited domestic refining capacity.