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Dangote Sugar Refinery, Nigeria’s largest sugar producer and refiner, officially launched a rights issue on the Nigerian Exchange Group (NGX) on 25 May 2026 to raise N485 billion ($353 million).

The share sale involves the issuance of 8.09 billion new ordinary shares offered at N60 per share, with the subscription and trading period running till June 24.

The offer is primarily reserved for shareholders listed on the company’s register as of April 20, with an allocation ratio of two new shares for every three shares already held.

The company stated that the fundraising forms part of its broader industrial expansion strategy, adding that the proceeds will help strengthen its balance sheet, reduce debt exposure, and accelerate the development of its integrated sugar projects across Nigeria.

Dangote Sugar aims to increase both sugarcane cultivation and processing capacity as it works toward a long-term production target of 1.5 million tons of sugar annually, from locally sourced raw materials.

The strategy also reflects Nigeria’s efforts to reduce dependence on imported raw sugar, most of which still comes from Brazil. Those imports continue to supply the company’s Apapa refinery, which has an installed refining capacity of 1.4 million tons per year. 

According to figures from the National Bureau of Statistics, Dangote Sugar imported about N915 billion worth of sugar in 2024.

Through its expansion plans, Dangote Sugar hopes to strengthen local production capacity while supporting broader industrial and agricultural development within Nigeria’s sugar value chain.