The Dangote Petroleum Refinery and Petrochemicals has officially opened its Initial Public Offering on the Nigerian Exchange, offering investors an opportunity to acquire shares in Africa’s largest refinery.
President of Dangote Industries Limited, Aliko Dangote, formally opened the offer on Monday by sounding the gong at the NGX trading floor in Lagos.
The listing marks a historic milestone for Nigeria’s capital market, as it is the first time a refinery has been offered to investors on the Nigerian stock market since the Exchange began operations 66 years ago.
4.1 billion shares on offer
The IPO comprises 4.1 billion new ordinary shares priced at N525 each, giving the offer a potential value of approximately N2.15tn if fully subscribed.
The minimum subscription is 10 shares, requiring an investment of N5,250.
The offer opened on Monday, September 14, 2026, and is scheduled to close on October 13, 2026, subject to the terms and conditions set out in the prospectus.
The offer is open to retail and institutional investors as well as eligible investors across Africa, widening access to ownership of the landmark refinery.
Dangote promises more company listings
Speaking at the launch ceremony, Dangote said the IPO formed part of a broader plan to expand public ownership of companies within the Dangote Group.
“As a group, we will list every company that we operate,” he said.
The businessman said the move would give more investors an opportunity to participate in the growth of the group’s businesses while also supporting the development of Nigeria’s capital market.
Sanwo-Olu, Dangote family attend launch
Lagos State Governor, Babajide Sanwo-Olu, was among the dignitaries at the ceremony, which was also attended by members of the Dangote family, including two of the industrialist’s daughters, as well as business associates and other stakeholders.
With the sounding of the NGX gong, investors can now begin subscribing for shares in the refinery.
The offering is expected to broaden participation in the ownership of the facility and increase activity on the Nigerian Exchange.
If all 4.1 billion shares are taken up at the offer price of N525, the refinery would raise about N2.15tn, making the IPO one of the most significant capital-mar
