UBA Launches N30m Loan for Dangote Refinery IPO Investment

United Bank for Africa (UBA) has introduced a personal loan option allowing customers to borrow up to N30 million to invest in the Dangote Petroleum Refinery initial public offering (IPO). This initiative aims to support retail investors who wish to participate in the share sale but may lack sufficient funds.

UBA communicated this offer directly to its customers via email, promoting it as an opportunity to invest in one of Africa's largest industrial projects. The IPO is priced at N525 per share, with a minimum purchase of 10 shares, amounting to N5,250.

UBA's initiative is part of a broader effort by financial institutions to enhance participation in the IPO, which has also seen collaboration from Moniepoint Microfinance Bank and TeamApt Ltd. Various banks and fintech companies are approved channels for subscription, with the Securities and Exchange Commission having approved the offering of 4.1 billion ordinary shares.

The order book opened on September 14, 2026, with potential to raise approximately N2.15 trillion if fully subscribed.