Zenith Bank Facilitates Dangote Refinery ₦2.15trn IPO

Zenith Bank has opened digital and branch channels for Nigerians to subscribe to the Dangote Petroleum Refinery and Petrochemicals Initial Public Offering (IPO), which seeks to raise ₦2.15 trillion. The subscription channels include the Zenith Bank website, mobile application, internet banking, USSD, and physical branches across Nigeria.

Applications will open on September 14, 2026, and close on October 13, 2026, with shares priced at ₦525 each and a minimum subscription of 10 shares, totaling ₦5,250. The IPO represents the largest equity offering in Africa and includes a Retail Investor Incentive Programme for qualifying retail investors.

Each application will be linked to the investor's Bank Verification Number (BVN) for security. The Dangote Refinery, with a capacity of 650,000 barrels per day, has become a significant player in Nigeria's petroleum industry, and this IPO aims to broaden public participation and attract substantial capital.