PiggyVest Launches Dangote Refinery IPO for 6.6M Users

PiggyVest has opened a new digital route for over 6.6 million Nigerians to purchase shares in the Petroleum Refinery and Petrochemicals FZE through an Initial Public Offering (IPO). This partnership with Chapel Hill Denham, one of the joint issuing houses, allows eligible users to subscribe directly via the PiggyVest platform.

The Dangote Refinery IPO commenced on September 14, 2026, and will close on October 13, 2026. The company is offering 4.1 billion ordinary shares, with a minimum subscription of 10 shares, allowing participation for as little as N5,250.

The IPO is expected to raise approximately N2.15 trillion, with proceeds designated for the refinery's expansion. Lanre Buluro, Managing Director of Capital Markets at Chapel Hill Denham, emphasized the use of digital channels to broaden investor access.

PiggyVest co-founder Joshua Chibueze noted the initiative aims to simplify share acquisition for first-time investors, while co-founder Odunayo Eweniyi stated it aligns with PiggyVest’s strategy to provide wealth-building opportunities.