By Priye Briggs
Dangote Petroleum Refinery & Petrochemicals FZE has officially opened its Initial Public Offering (IPO) to the public, marking a major milestone for Nigeria’s economy and Africa’s financial markets.
The offer, launched on September 14, 2026, at the trading floor of the Nigerian Exchange (NGX), involves 4.1 billion new ordinary shares priced at ₦525 each, with a minimum buy-in of 10 shares (₦5,250). The subscription window closes on October 13, 2026, unless otherwise stated in the Prospectus.
The fundraising is expected to generate about ₦2.15 trillion, ranking among the largest equity raises in African history. Proceeds will support refinery expansion, operations, strategic investments, and shareholder value creation.
President and CEO of Dangote Industries Limited, Aliko Dangote, described the IPO as a transformative step: “This offering is about more than raising capital; it is about creating an opportunity for ordinary Nigerians, Africans, and investors across the globe to participate directly in one of the most transformative industrial projects ever built on the continent.”
Group Managing Director and CEO of NGX Group, Temi Popoola, said the IPO represents a turning point for Nigeria’s capital market: “Our capital market must increasingly become a place where Nigerians can participate in the value created by our country’s most important businesses.”
Since commencing operations, the Dangote Refinery has boosted energy security, reduced reliance on imported refined products, saved foreign exchange, and positioned Nigeria as an exporter of petroleum products. The plant has supplied high-quality fuel to local and foreign markets while driving industrial growth.
The company emphasized that the subscription process is simple, digital, and accessible through NGX Invest, selected banks, and licensed investment platforms.
With the launch ceremony held at NGX, Dangote Refinery reaffirmed its commitment to operational excellence, good governance, sustainable growth, and long-term shareholder returns.