Vetiva Advises Dangote Refinery IPO Set for 2026

Vetiva Advisory Services Limited has been appointed as the Lead Adviser for the Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE (DPRP). This IPO, which has received approval from the Securities and Exchange Commission (SEC), is scheduled to open for subscription on September 14, 2026.

As the Lead Adviser, Vetiva is responsible for the advisory and transaction coordination process, collaborating with DPRP and other relevant parties to ensure the successful execution of this significant capital market transaction. The IPO will offer up to 4.1 billion ordinary shares in DPRP, with final terms, including the issue price and timetable, to be detailed in the SEC-registered Prospectus.

DPRP operates one of the largest integrated refining and petrochemicals complexes globally, with a refining capacity of approximately 700,000 barrels per day and a polypropylene production capacity of about 830,000 tonnes per annum. The IPO aims to expand DPRP's ownership base and secure additional equity capital for its growth and strategic objectives.

An application has also been submitted to the Nigerian Exchange Limited for the listing of DPRP’s entire issued ordinary share capital.