Dangote Refinery Launches IPO, Shares Start at N5,250

The Dangote Petroleum Refinery and Petrochemicals FZE launched its initial public offering (IPO) on September 14, 2026, allowing Nigerians to purchase shares for a minimum of N5,250. The IPO involves 4.1 billion ordinary shares priced at N525 each, with the potential to raise approximately N2.15 trillion if fully subscribed.

Ladi Balogun, Chief Executive of FCMB Group, stated that the minimum subscription of 10 shares makes the offer accessible to individual investors, enabling broader participation in the capital market. Aliko Dangote, President of Dangote Industries, emphasized that the IPO is designed to allow diverse groups, including drivers, cooks, and traders, to invest in the refinery.

Balogun noted the increasing participation of retail, high-net-worth, institutional, and international investors in the capital market, facilitated through various investment channels. FCMB Group is involved in the IPO through its subsidiaries, including FCMB Capital Markets as a joint issuing house and CSL Stockbrokers as the stockbroker.