Dangote Petroleum Refinery and Petrochemicals FZE has officially opened its Initial Public Offering (IPO), giving members of the public and other eligible investors an opportunity to acquire shares in Africa’s largest refinery.
Gatekeepers News reports that the public offer commenced on Monday, September 14, 2026, following a ceremony at the Nigerian Exchange (NGX) in Lagos, where Aliko Dangote, president of Dangote Industries Limited, formally opened the transaction.
The offer comprises 4.1 billion new ordinary shares priced at N525 per share. At the offer price, the company could raise about N2.15 trillion if the entire offer is taken up.
Investors can subscribe for a minimum of 10 shares, meaning the minimum entry amount is N5,250. The offer is expected to close on October 13, 2026, subject to the terms contained in the prospectus.
The transaction is open to retail and institutional investors as well as eligible African investors. It represents the first opportunity for members of the public to take an ownership stake in the refinery through the Nigerian capital market.
Dangote had earlier said the offer was designed to widen participation in the refinery and give Nigerians an opportunity to benefit from the growth of the business.
The proceeds are expected to support the refinery’s expansion programme, with the company planning to increase its refining capacity from its current 700,000 barrels per day to about 1.4 million barrels per day.
The IPO has also attracted significant early interest. Reports indicate that investors committed more than $7 million, or about N10 billion, within the first hour of the offer opening.
The public offer is expected to deepen participation in Nigeria’s capital market while giving investors an opportunity to own part of one of the country’s largest private-sector industrial projects.
