Aliko Dangote's mega refinery in Nigeria is operating at full capacity to
maximize exports of diesel and jet fuel to Europe and capture surging margins.
Middle East refined-product flows to Europe have fallen sharply since the
U.S.-Israel war on Iran began, creating a supply gap the plant is filling; the
refinery reached full output shortly before the conflict began on Feb. 28. The
run-rate underscores its earnings potential ahead of Dangote's planned Sept. 14
IPO, touted as Africa's largest equity sale.
