NGX Promotes Dangote Refinery's ₦2.15tn IPO Across Africa

The Nigerian Exchange Group (NGX) is actively promoting the ₦2.15tn initial public offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE to investors in Egypt, Ethiopia, and Botswana. The IPO opened on September 14, 2026, and was initially set to close on October 13 but has been extended to October 27.

Umaru Kwairanga, the NGX Group Chairman, stated that the roadshow aims to broaden ownership of the refinery and showcase how cooperation among African capital markets can foster industrial development. He emphasized that the IPO is not merely a fundraising effort but an opportunity for investors across Africa to engage in a significant industrial project.

Kwairanga highlighted the refinery's expansion plans and operating performance as attractive to investors beyond Nigeria, aiming to strengthen financial ties among African markets. He linked this initiative to the African Continental Free Trade Area, advocating for improved access to financing for businesses across the continent.