Investors Inject N1.5 Trillion into Dangote IPO in One Hour

On September 14, 2026, investors poured N1.5 trillion into the Dangote Petroleum Refinery and Petrochemicals (DPRP) Initial Public Offering (IPO) within the first hour of trading on the Nigerian Exchange (NGX). The IPO, which opened with a target of raising approximately N2.15 trillion (about $1.6 billion), comprises 4.1 billion ordinary shares priced at N525 each and will remain open until October 13, 2026.

Within the first hour, N1.476 trillion was recorded in 402,634 transactions, as reported by the Nigerian Exchange Group (NGX). The IPO features a greenshoe option of up to 30% to accommodate excess demand.

At the ceremonial Gong Striking event at the NGX headquarters in Lagos, Dangote Group President Aliko Dangote emphasized the offer's purpose of broadening market access. He outlined ambitious goals, including increasing refining capacity to 2.1 million barrels per day by 2030 and achieving a market capitalization of at least $350 billion within four years.

The company had previously raised $2.5 billion through a private placement in July 2026.