Dangote Refinery IPO Opens for Public Investment in 2026

The Dangote Petroleum Refinery, located in the Lekki Free Trade Zone on the outskirts of Lagos, is set to open its initial public offering (IPO) on September 14, 2026, priced at N525 per share. This marks a historic moment as it allows ordinary Nigerians to invest in a refinery capable of processing 650,000 barrels of crude oil daily, with performance trials indicating a capacity of 700,000 barrels per day.

The Nigeria’s Securities and Exchange Commission approved the offering, which includes 4.1 billion ordinary shares, valuing the refinery at approximately $47 billion. If fully subscribed, the IPO could raise N2.15 trillion (about $1.55 billion), making it the largest share sale in African capital market history.

This development signifies a shift from Nigeria's past reliance on importing fuel despite being an OPEC member with substantial crude oil reserves, and represents a potential turning point for African industrial ambition and financial inclusion.