Dangote Refinery Launches N2.15tn IPO in Nigeria

Dangote Petroleum Refinery & Petrochemicals FZE announced the commencement of its Initial Public Offering (IPO) on September 14, 2026, marking a significant milestone in Nigeria's economic development. The IPO consists of 4.1 billion new ordinary shares offered at N525 per share, with a minimum subscription of 10 shares valued at N5,250.

The offer is expected to remain open until October 13, 2026. This public offering aims to raise approximately N2.15 trillion, making it one of Africa's largest equity offerings.

The proceeds will support the refinery's long-term growth, operational expansion, and strategic investments. Aliko Dangote, President and Chief Executive of Dangote Industries Limited, emphasized the importance of this IPO in democratizing ownership and creating opportunities for ordinary Nigerians and investors globally.

Temi Popoola, Group Managing Director and Chief Executive Officer of Nigerian Exchange Group, highlighted the IPO's significance for Nigeria's capital market, advocating for broader ownership and access for Nigerians to participate in the value created by major businesses.