Dangote Sugar Refinery Plc has launched its Series 10-12 Commercial Paper (CP) offer valued at up to N100 billion under its expanded N300 billion Commercial Paper Issuance Programme.
The offer opened to investors ahead of its scheduled close on Wednesday, June 25, 2025.
The company, a subsidiary of Dangote Industries Limited, is engaged in the refining, distribution, and marketing of granulated sugar. Its products serve a wide range of industries, including food and beverages, pharmaceuticals, and skin care manufacturing.
Dangote Sugar Refinery is currently the largest sugar refining company in Sub-Saharan Africa, boasting a combined installed refining capacity of 1.49 million metric tonnes per annum. In line with its medium-term vision, the company aims to add another 1.5 million metric tonnes of refined sugar production capacity using locally grown sugarcane. This goal is part of its ambitious backward integration plan that seeks to position the company as a leading global integrated sugar producer.
The current offer follows a previous issuance in February 2025, when the company raised to N50 billion through Series 8 and 9 of its Commercial Paper programme under a then N150 billion programme. That offering closed on February 20, 2025.
This new CP issuance marks the first major financial initiative under the leadership of Arnold Ekpe, who was appointed as the Chairman of the Board of Directors on June 16, 2025. Ekpe, an Independent Non-Executive Director, brings significant leadership experience from the banking and corporate sectors. His appointment signals a continued focus on governance, stakeholder value, and sustainable growth.
The change in board leadership follows the retirement of Aliko Dangote as Chairman of the Board, effective June 16, 2025. Dangote, a founding director of the company since 2005, is credited with transforming the sugar refinery into an industry leader. Under his stewardship, the company consistently delivered shareholder value, led major backward integration projects in Adamawa, Taraba, and Nasarawa States, and maintained a strong corporate governance framework.
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