The Dangote Petroleum Refinery and Petrochemicals FZE will, on September 14, 2026, open its initial public offering (IPO) for sale.
The landmark ₦2.15 trillion ($1.6 billion) deal marks the launch of Nigeria’s largest-ever public share sale, with 4.1 billion ordinary shares priced at ₦525 each.
The President of Dangote Group, Aliko Dangote, on Monday signed the offer documents at the historic ceremony held at Eko Hotel and Suites, Victoria Island, Lagos, alongside the advisers and issuing houses managing the sale.
At the opening ceremony, Dangote said that the IPO seeks to give ordinary Nigerians an opportunity to have a stake in the refinery.
“What we are trying to achieve is to make sure our drivers, cooks, servants, and everybody have the opportunity of having stakes in the refinery,” said the businessman.
The official application list opens on September 14, 2026, and will officially close on October 13, 2026.
Every day from September 14, investors can participate with a minimum subscription of 10 shares, costing ₦5,250.
Step-By-Step Guide
Here is a step-by-step guide on how to buy the shares, as explained by the Managing Director, Investment Banking, Chapel Hill Denham, Mr. Lanre Buluro.
According to Buluro, anyone with a Bank Verification Number (BVN), a mobile phone or a laptop, and a bank account will be able to subscribe in two to three minutes with a minimum of 10 shares and at an indicative price of ₦525 per share.
He noted that the transaction is the first of its type and 100 per cent digital.
He said that to subscribe to the shares, an interested person can use Moniepoint POS stations or app, MTN momo, Airtel, Payaza, Piggyvest, Paga, Bamboo and Chapel Hill Denham which has one of the most leading fintech platforms called Invest Naija.
According to him, one does not necessarily need to have a Central Securities Clearing System (CSCS) identity to subscribe to this transaction, as a CSCS account will be created for them in less than two minutes once they go to any of the apps listed above with their BVN and bank account number, and their details have been verified.
There is a stockbroker behind all these apps.
Post-transaction and prior to allotment, the stockbroker will contact the interested subscriber to inform them that their CSCS and Clearing House Number (CHN) are ready, and their shares will be domiciled in a CSCS.
Buluro urged new investors and current investors to engage with a financial advisor and to read the prospectus and understand what they are doing before committing to make any investments in the capital market.
Investors have up to four weeks to participate in the offer.
He further explained that at close, there is a process where there is an allotment process where the advisers and the Securities and Exchange Commission (SEC) get to look at where all the subscriptions are and determine how much they will be offering investors.
Buluro, however, stated that “there is a provision in the event of an oversubscription to take about 30 per cent more to accommodate as many Nigerians as the Dangote Refinery can.
“Four point one billion shares are being offered, but there is the flexibility to take about 30 per cent more. So, in the event of an oversubscription and they do apply that 30 per cent oversubscription amount, about 5.3 billion shares could be issued to investors.”
Watch the full video on how to invest in Dangote Refinery below:
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