Dangote Refinery Launches N2.15tn IPO for Nigerians

Dangote Petroleum Refinery & Petrochemicals FZE has opened its Initial Public Offering (IPO) on September 14, 2026, allowing Nigerians and eligible investors to purchase shares priced at N525 each. The offering includes 4.1 billion new ordinary shares, with a potential total raise of about N2.15 trillion if fully subscribed, marking it as one of Africa's largest equity offerings.

The IPO is set to close on October 13, 2026. Investors can subscribe for a minimum of 10 shares, enabling participation from as little as N5,250.

The proceeds from the IPO will support the refinery's long-term growth strategy and operational expansion. President and Chief Executive of Dangote Industries Limited described the IPO as a significant opportunity for ordinary Nigerians to share in the refinery's value.

Nigerian Exchange Group Managing Director and CEO Temi Popoola stated that the transaction is pivotal for Nigeria's capital market, enhancing opportunities for local ownership in major businesses. Subscriptions will be accessible through various approved channels, including banks and fintech platforms.