The planned initial public offering of Aliko Dangote’s nearly $50 billion refinery business has reportedly attracted commitments sufficient to meet its fundraising target even before foreign demand is counted. Sources familiar with the process say domestic and retail investors have put in $1.5 billion to $1.6 billion of fully funded orders. The company is expected to use a 30% overallotment option, lifting proceeds to about $2.1 billion, though international appetite may still exceed supply. Investors from all 54 African countries have requested allocations, alongside applicants from 65 other nations, bringing participation to 119 countries. The transaction offers international investors exposure to Africa’s largest oil-processing complex and represents a significant equity-raising opportunity for the continent.