Dangote Refinery Launches ₦2.15trn IPO Today
Dangote Petroleum Refinery & Petrochemicals FZE has launched its Initial Public Offering (IPO), offering Nigerians and Africans the chance to own a stake in Africa’s largest refinery.
The IPO, which opened September 14, 2026, consists of 4.1 billion new ordinary shares at ₦525 each, with a minimum subscription of 10 shares valued at ₦5,250. The offer runs until October 13, 2026, according to the Prospectus.
The transaction aims to raise about ₦2.15 trillion, making it one of Africa’s largest equity offerings. Proceeds will fund growth, operational expansion, and strategic investments.
Aliko Dangote described the IPO as “more than raising capital,” saying it was about democratizing ownership. “We invite investors to join us as partners in building a globally competitive enterprise that will continue to shape the future of energy, manufacturing, and economic development in Africa,” he said.
Temi Popoola, CEO of Nigerian Exchange Group, called the IPO “an important moment for Nigeria’s capital market,” stressing the need to broaden ownership and expand access. NGX has enabled participation through more than 50 distribution channels, including banks, brokers, and fintechs.
The refinery, already a strategic national asset, has strengthened energy security, reduced dependence on imports, conserved foreign exchange, and positioned Nigeria as a petroleum exporter.
Since operations began, it has supplied premium products domestically and internationally.
Dangote Refinery reaffirmed its commitment to transparency, corporate governance, and long-term value creation, noting that subscriptions can be made via NGX Invest, designated banks, and authorised platforms.