Nigeria's Dangote Refinery has raised $2.5bn from private investors, marking a significant step towards its expansion plans and potential IPO.The funding will support doubling the refinery's capacity from 650,000 to 1.4 million barrels per day, making it the world's largest refinery.This investment, described as Africa's largest private placement, aims to reduce regional reliance on imported fuel and enhance energy security.The project also includes a 700,000 barrel-a-day refinery in Kenya's Lamu, targeting East African markets.Analysts note the move reflects growing strategic importance of African refining capacity, with institutions like Afreximbank committing $2.5bn for expansion.The funding complements internal cash flows and enables simultaneous projects, positioning Dangote as a key player in Africa's energy landscape.