Millions of Nigerians will, for the first time, have the opportunity to own a stake in Africa’s largest refinery, as Dangote Petroleum Refinery & Petrochemicals FZE opened its Initial Public Offering to the public today.
The offer was formally launched at a ceremony on the trading floor of the Nigerian Exchange (NGX) in Lagos.
The IPO, open from today, September 14, 2026, through October 13, 2026, comprises 4.1 billion new ordinary shares priced at N525 each, with a minimum subscription of 10 shares (N5,250).
Targeted at retail, institutional, and eligible African investors, the offer could raise as much as N2.15 trillion, making it one of the largest equity offerings in Africa’s history. Proceeds will fund the Refinery’s expansion, strategic investments, and long-term growth plans.
President and Chief Executive of Dangote Industries Limited, Aliko Dangote, described the offering as extending the refinery’s founding vision by opening ownership to ordinary Nigerians, Africans, and global investors, calling broad-based ownership a key driver of wealth creation and economic inclusion.
Temi Popoola, Group Managing Director and CEO of Nigerian Exchange Group, said the listing reflects NGX’s push to widen market access, pointing to NGX Invest and a network of over 50 distribution channels—including banks, stockbrokers, and fintechs—built to make participation easier for ordinary investors.
Since beginning commercial operations, Dangote Refinery has become a strategic national asset, supplying premium petroleum products domestically and abroad while strengthening Nigeria’s energy security and reducing reliance on imports.
The company said the offer has been structured for accessibility and transparency, with subscriptions available through NGX Invest, designated banks, and authorized investment platforms, per the terms of the Prospectus.
