Africa's richest man, Aliko Dangote, has said Europe should thank President Bola Tinubu for keeping its planes flying.

According to him, Tinubu's leadership, which reformed Nigeria's oil sector, is the reason why his Dangote Refinery is the largest supplier of jet fuel to Europe.

Dangote said this while launching his IPO, which aims to raise $1.6bn.

He said, "Dangote Refinery is the largest supplier of jet fuel to Europe. Europe must really thank Nigeria under the leadership of President Bola Tinubu for keeping its planes flying."

The $1.6 billion from the IPO is expected to expand his mega oil refinery to become the world's largest.

The Lagos-based refinery, which began operations in 2024, has a capacity of 700,000 barrels per day, exceeding domestic demand in Nigeria, Africa's most populous country.

It began exporting its fuel abroad a few months ago.

The Dangote Petroleum Refinery aims to raise funds to double its capacity to 1.4 million barrels a day by 2028, making it the world's largest refinery and surpassing Jamnagar in India.

Describing it as an "historic day", Dangote said in a statement that the IPO was "not simply about listing a company. It is about listing a new possibility for Nigeria, and for Africa".

ASA