Dangote Petroleum Refinery and Petrochemicals FZE will open its Initial Public Offering (IPO) for subscription on September 14, 2026, following regulatory approval and the signing of the offer documents.
Gatekeepers News reports that the offer comprises 4.1 billion ordinary shares at ₦525 per share, with the company targeting approximately ₦2.15 trillion if the offer is fully subscribed. The Securities and Exchange Commission (SEC) approved the offer on September 4.
The IPO is expected to be one of the largest share offerings in Nigeria and Africa, with Dangote targeting retail investors and seeking to broaden public ownership of the refinery. The offer is expected to run until October 13, with the shares projected to begin trading on the Nigerian Exchange in November.
The funds raised will support the refinery’s expansion plans, including increasing its current refining capacity to about 1.4 million barrels per day. The company has outlined a $14.3 billion expansion plan as it seeks to become the world’s largest refinery by capacity.
The refinery, located in Ibeju-Lekki, Lagos, currently has a capacity of about 700,000 barrels per day and has become a major player in Nigeria’s petroleum market since commencing operations.
