Dangote Petroleum Refinery and Petrochemicals FZE has commenced its Initial Public Offering, IPO, offering 4.1 billion new ordinary shares at N525 each in a transaction expected to raise about N2.15 trillion.
The offer opened today, September 14, 2026, and is expected to close on October 13, 2026, subject to the terms contained in the Prospectus.
The IPO, which will be formally launched at a ceremony on the trading floor of the Nigerian Exchange (NGX) in Lagos, gives retail, institutional and eligible African investors an opportunity to acquire shares in Africa’s largest refinery.
The minimum subscription is 10 shares at N5,250.
The proceeds will support the refinery’s long term growth plans, operational expansion and strategic investments.
President and Chief Executive of Dangote Industries Limited, Aliko Dangote, described the offer as a new chapter for the refinery and an opportunity for Nigerians, Africans and investors globally to participate in its growth.
“Today marks the beginning of a new chapter in the history of Dangote Refinery and, indeed, in the economic future of our nation,” Dangote said.
He said the refinery was established to transform Africa’s energy landscape, create jobs, conserve foreign exchange and promote shared prosperity, adding that the IPO would extend that vision through broader ownership.
Dangote said broad based ownership would help build wealth, strengthen the capital market and accelerate economic inclusion.
The Group Managing Director and Chief Executive Officer of Nigerian Exchange Group, Temi Popoola, said the IPO represented an important moment for Nigeria’s capital market because of both its scale and its potential to broaden public participation in major Nigerian businesses.
Popoola said NGX Group had been building infrastructure to make participation in the public market more accessible through NGX Invest and connectivity across more than 50 distribution channels, including stockbrokers, banks and fintechs.
He said the development would help create stronger links between Nigerian enterprises and domestic capital while giving more Nigerians opportunities to participate in their growth.
Dangote Refinery said it had emerged as a strategic national asset by contributing to energy security, reducing dependence on imported refined products, conserving foreign exchange and positioning Nigeria as a major exporter of petroleum products.
Since commencing commercial operations, the refinery has supplied petroleum products to domestic and international markets while supporting industrial growth and economic transformation across the region.
The company said investors could subscribe through approved distribution channels, including NGX Invest, designated commercial banks and authorised investment platforms, subject to the provisions of the Prospectus.
Dangote Refinery also reaffirmed its commitment to operational excellence, corporate governance, sustainable growth and long term value creation for shareholders.