Toby Howell
speaker
32,847 appearances
343 recordings
5 series
first heard Oct 2023
last heard today
Toby Howell’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsRecordings per month over the last 12 months — 202 in all, peaking in Jun 2026 with 49.
Appearances
Here in the US, everyone is locked in on the potential IPOs of anthropic and open AI, but another mega debut in Ocean Away is making just as big of waves.
voice-verified
The richest man in Africa, Nigerian billionaire Aliko Dangote, just launched the IPO of his giant Lagos oil refinery.
voice-verified
The $1.6 billion he hopes to raise from investors would make it Africa's largest public offering ever.
voice-verified
Today's refinery is big.
voice-verified
Construction finished in 2024, and earlier this year it reached its full capacity of 650,000 barrels per day.
voice-verified
For context, Saadia Ramco's biggest refinery, the Ras Tanura, produces approximately 550,000 barrels per day.
voice-verified
It's a critical piece of infrastructure for a company because despite being a very oil-rich nation, Nigeria has been forced to outsource much.
voice-verified
Of its refining to other countries to turn their crude into usable fuels.
voice-verified
In the years since Dangotis came online, it has transformed Nigeria from an importer of refined petroleum to an exporter.
voice-verified
The refinery cost about $19 billion to build, which means the initial offering price of roughly $49 billion is two and a half times its construction cost.
voice-verified
A valuation some critics say is too high.
voice-verified
But Dangoti's
voice-verified
Tongote is counting on retail investors to jump at the chance to snag a piece, setting the minimum investment at just $4 and calling it, quote, the people's IPO.
voice-verified
Neil, I almost see shades of the SpaceX IPO here, not in terms of industry or valuation, but in how it's being marketed to everyday investors.
voice-verified
Is this the people's IPO?
voice-verified
Tongote has a lot.
voice-verified
There are two other angles too.
voice-verified
One, this comes at a pretty good time for the refinery business.
voice-verified
What if we talked about for the last couple of months?
voice-verified
The fact that there is not enough refinery capacity in the world right now, even as supply of crude oil is constrained.
voice-verified
Showing 321–340 of 32,847 · page 17 of 1643
← Previous
Next →