Dangote IPO to Boost NGX Market Cap to N225 Trillion

Dangote Petroleum Refinery & Petrochemicals FZE is preparing for an initial public offering (IPO) next month, which is expected to position it as the largest company on the Nigerian Exchange Limited (NGX) with a valuation of N65.22 trillion. The IPO will involve the sale of 4.1 billion ordinary shares at a fixed price of N525 each, aiming to raise gross proceeds of N2.15 trillion ($1.6 billion).

This transaction is anticipated to significantly impact the NGX, increasing its market capitalization from N160.6 trillion to N225 trillion. Aliko Dangote, chairman of the Board of Directors of DPRP and Founder and President of Dangote Industries Limited, described the IPO as a milestone for the company and the continent, emphasizing its importance for Africa's energy security.

The offer will open on September 14, 2026, and close on October 13, 2026. Vetiva Advisory Services Limited is the lead issuing house, supported by a syndicate of over twenty joint issuing houses.