The Dangote Petroleum Refinery and Petrochemicals has commenced its historic ₦2.15 trillion Initial Public Offering (IPO) on the Nigerian Exchange (NGX), giving investors an opportunity to acquire shares in Africa’s largest refinery.
The offer was formally launched on Monday, September 14, 2026, when the President of Dangote Industries Limited, Aliko Dangote, sounded the gong at the NGX trading floor in Lagos to mark the commencement of the subscription.
Key Highlights
- Dangote Refinery’s ₦2.15tn IPO opens on the NGX, the first refinery listing in the Exchange’s 66-year history.
- 4.1 billion new ordinary shares are on offer at ₦525 per share.
- Minimum subscription is 10 shares, valued at ₦5,250.
- The offer closes on October 13, 2026.
- Aliko Dangote sounded the NGX gong to formally open the offer.
- Lagos Governor Babajide Sanwo-Olu attended the launch ceremony.
Dangote Refinery IPO Opens on NGX
The IPO represents the first time a refinery has been offered on the Nigerian stock market in the 66-year history of the Exchange.
Under the offer, 4.1 billion new ordinary shares are being made available at ₦525 per share, with investors able to subscribe for a minimum of 10 shares valued at ₦5,250.
The offer is scheduled to close on October 13, 2026, subject to the terms and conditions contained in the prospectus.
Speaking at the launch, Dangote said the decision was part of efforts to broaden participation in the ownership of companies within the Dangote Group.
He said the company would continue to explore ways of making its businesses accessible to a wider range of investors.
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Investors Eye Stake In Africa’s Largest Refinery
The offering provides retail, institutional and eligible African investors with an opportunity to acquire an equity stake in the Dangote Refinery.
At the offer price of ₦525 per share, the 4.1 billion shares could raise approximately ₦2.15 trillion if fully subscribed.
Lagos State Governor, Babajide Sanwo-Olu, was among dignitaries who attended the ceremony, alongside members of the Dangote family, business associates and other stakeholders.
The sounding of the NGX gong formally opened the offer, allowing prospective investors to begin subscribing to the shares. Further details on the offering are available on the Nigerian Exchange website.
The IPO is expected to expand public participation in the ownership of the refinery while further deepening activities in Nigeria’s capital market.
The Dangote Refinery, located in Lagos, is widely regarded as Africa’s largest single-train oil refinery and has become a major development in Nigeria’s drive to strengthen domestic petroleum refining capacity. For more updates, follow us on X.
