Dangote Petroleum Refinery and Petrochemicals has appointed Turkish finance professional Betul Sarikaya as its new Chief Financial Officer (CFO), following the completion of its initial public offering (IPO).
Sarikaya announced her appointment in a LinkedIn post on November 3, describing the position as an opportunity to contribute to the growth of one of the world’s largest refineries.
She said the appointment came at a significant time for the company, which had recently concluded what she described as Africa’s largest IPO, attracting investors from about 120 countries.
According to her, the refinery is also preparing for an expansion programme that will increase its production capacity from 700,000 barrels per day to 1.4 million barrels per day.
Sarikaya said her decision to join the company was influenced by its ambition to strengthen Africa’s industrial development and energy independence.
She brings experience in corporate finance, project financing, treasury management, mergers and acquisitions, and risk management, with particular expertise in the energy and infrastructure sectors.
Her appointment places her alongside Murat Erden, another Turkish financial executive who serves as Group Chief Financial Officer of Dangote Industries.
Located in Lagos, the $20 billion Dangote refinery commenced operations in 2024. With an initial capacity of 700,000 barrels per day, the facility is owned by Nigerian billionaire Aliko Dangote, Africa’s richest man.