The Dangote Petroleum Refinery and Petrochemicals (DPRP) has announced plans for a landmark Initial Public Offering (IPO) valued at approximately ₦2.15 trillion (US$1.6 billion), targeting up to 10 million Nigerian investors through a secure, technology-driven subscription process integrated with the nation’s Bank Verification Number (BVN) system.
According to a statement issued by the company, the offer is scheduled to open on September 14, 2026, and is expected to rank among the largest equity offerings in the history of Nigeria’s capital market. The transaction includes an overallotment option of up to 30 percent of the offer size to accommodate strong investor interest.
The Group, in a statement on Monday, said once the offering is completed and all regulatory approvals are received, the company’s shares will be listed on the Main Board of Nigerian Exchange Limited (NGX).
The company said the public offer is designed to broaden participation in wealth creation and deepen Nigeria’s capital market, giving millions of Nigerians the opportunity to acquire ownership stakes in one of Africa’s most strategic industrial assets.
It added that the BVN-integrated subscription platform would allow investors nationwide to participate seamlessly, securely and transparently, removing many of the traditional barriers to equity investment.
Speaking at the IPO Signing Ceremony, Aliko Dangote, GCON, Chairman of the Board of Directors of DPRP and Founder and President of Dangote Industries Limited, described the transaction as a defining moment for the company and the continent.
“Today’s signing ceremony marks another defining milestone in the evolution of DPRP. We set out to build a world-class refinery capable of transforming Nigeria’s energy landscape and strengthening Africa’s energy security. Through this IPO, we are opening ownership of this strategic asset to a broader community of investors and creating an opportunity for Nigerians to participate directly in its future growth and value creation.”
He added: “This refinery means so much to our continent. From the man working in the Simandou mines, to the woman cultivating the fertile fields of Amhara, to the fisherman in Walvis Bay, and the custodians of our ancient history at the northern edge of Africa, this project represents a shared African achievement. Today is indeed a day of collective pride.”
The company described the IPO as one of the most significant initiatives aimed at democratising investment opportunities and expanding retail participation in Nigeria’s capital market.
It said that by leveraging existing digital financial infrastructure and BVN verification, DPRP is seeking to make share ownership accessible to both first-time investors and experienced market participants across the country.
Dangote said the transaction reflects the company’s commitment to inclusive prosperity, broad-based ownership and long-term national economic development.
“This offer presents Nigerians with a unique opportunity to become co-owners of a world-class refinery that is transforming Africa’s energy landscape. By simplifying the subscription process through BVN integration and digital application channels, we are opening the door for millions of citizens to participate in the growth story of this strategic national asset.”
