Dangote Refinery Launches N2.15tn IPO for Investors

On September 14, 2026, Dangote Petroleum Refinery & Petrochemicals FZE will launch its N2.15 trillion Initial Public Offering (IPO), enabling Nigerian and eligible investors to purchase shares in Africa's largest refinery. The IPO includes 4.1 billion new ordinary shares priced at N525 each, with a minimum subscription of 10 shares, totaling N5,250.

The offer will be available from September 14 to October 13, 2026, and targets retail, institutional, and eligible African investors. Aliko Dangote, president and chief executive of Dangote Industries Limited, stated that the IPO is not just a capital-raising effort but aims to create wider ownership of a significant Nigerian industrial enterprise.

Temi Popoola, group managing director and CEO of Nigerian Exchange Group, emphasized the importance of the listing in broadening public participation in Nigerian businesses, noting the expansion of NGX's distribution infrastructure to facilitate easier access to the capital market.