Fintech Platforms Waive Fees for Dangote Refinery IPO

PiggyVest, Bamboo, and Cowrywise are waiving transaction fees as they compete for Nigerians interested in purchasing shares of the Dangote Petroleum Refinery, which launched its ₦2.15 trillion public offer on September 14, 2026. The offer includes 4.1 billion shares priced at ₦525 each, with a minimum subscription of 10 shares, allowing participation from ₦5,250.

These fintech platforms are eliminating charges such as brokerage fees, stamp duty, trade alerts, and Value Added Tax for customers subscribing to the IPO. This strategy aims to attract new customers, with Bamboo reportedly registering over 236,000 new accounts in the week before the offer opened.

The IPO has already raised more than ₦21 billion through approximately 38,000 transactions within four hours of its launch. The Dangote Refinery seeks to engage up to 10 million retail investors, significantly increasing the current number of 2.7 million retail investors in Nigeria.