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[IN PICTURES] Dangote Refinery’s Historic IPO Opening At NGX
Channels TV about 1 hour 5 mins read
The Nigerian Exchange (NGX) in Lagos witnessed a landmark moment on Monday, as the Dangote Petroleum Refinery and Petrochemicals FZE officially opened its Initial Public Offering (IPO).
President and Chief Executive Officer of Dangote Industries Limited, Aliko Dangote, sounded the opening gong on the NGX trading floor to formally commence the public offer, giving investors an opportunity to own shares in Africa’s largest refinery.
The IPO offers 4.1 billion ordinary shares at ₦525 per share, with a minimum subscription of 10 shares, valued at ₦5,250. The offer is expected to raise about ₦2.15 trillion and will remain open until October 13, 2026.
At the ceremony, Dangote said the decision to take the refinery to the public market was aimed at broadening ownership and “democratising wealth creation”, rather than simply raising funds.
The event attracted prominent figures from government, business, the capital market and traditional institutions, including Lagos State Governor Babajide Sanwo-Olu, NGX Group executives, senior Dangote Industries officials, the Ooni of Ife, Oba Adeyeye Ogunwusi, and other distinguished guests.
Here are moments from the historic IPO opening on the floor of the Nigerian Exchange in Lagos.
Stockbrokers at the official opening of the Dangote Refinery IPO at NGX in Lagos on Monday, September 14, 2026. Photo: Nosakhale Akhimien/Channels TVOoni of Ife Oba Adewusi at the official opening of the Dangote Refinery IPO at NGX in Lagos on Monday, September 14, 2026. Photo: Nosakhale Akhimien/Channels TV
Aliko Dangote giving a speech at the official opening of the Dangote Refinery IPO at NGX in Lagos on Monday, September 14, 2026. Photo: Nosakhale Akhimien/Channels TV
Aliko Dangote speaking at the official opening of the Dangote Refinery IPO at NGX in Lagos on Monday, September 14, 2026. Photo: Nosakhale Akhimien/Channels TV
Stockbrokers during the official opening of the Dangote Refinery IPO at NGX in Lagos on Monday, September 14, 2026. Photo: Nosakhale Akhimien/Channels TV
L-R: Group Chairman, Nigerian Exchange Group, Umaru Kwairanga; President and Chief Executive Officer, Dangote Industries Limited, Aliko Dangote; Group Executive Director, Dangote Industries Limited, Halima Aliko-Dangote; Group Managing Director and Chief Executive Officer, Nigerian Exchange Group, Temi Popoola, at the official opening of the Dangote Refinery IPO at the Nigerian Exchange (NGX) in Lagos on Monday, September 14, 2026. Photo: Nosakhale Akhimien/Channels Television.
Stockbrokers witnessing the official opening of the Dangote Refinery IPO at NGX in Lagos on Monday, September 14, 2026. Photo: Nosakhale Akhimien/Channels TV
L-R: Founder, Zenith Bank Plc, Jim Ovia; Chairman, Coronation Group, Aigboje Aig-Imoukhuede; Group Chairman, Nigerian Exchange Group, Umaru Kwairanga; Group Vice President, Oil and Gas and Fertiliser, Dangote Industries Limited, Devakumar V.G. Edwin; President and Chief Executive Officer, Dangote Industries Limited, Aliko Dangote; Chief Executive Officer, Dangote Foundation, Halima Aliko-Dangote; Group Managing Director and Chief Executive Officer, Nigerian Exchange Group, Temi Popoola; Governor of Lagos State, Babajide Sanwo-Olu; Managing Director/Chief Executive Officer, Vetiva Capital Management Limited, Chuka Eseka, at the official opening of the Dangote Refinery IPO at the Nigerian Exchange (NGX) in Lagos on Monday, September 14, 2026. Photo: Nosakhale Akhimien/Channels Television.
L-R: Group Executive Director, Dangote Industries Limited, Halima Aliko-Dangote; Group Managing Director and Chief Executive Officer, Nigerian Exchange Group, Temi Popoola; Governor of Lagos State, Babajide Sanwo-Olu; Managing Director/Chief Executive Officer, Vetiva Capital Management Limited, Chuka Eseka; Chairman, Nigerian Exchange Limited, Ahonsi Unuigbe, at the official opening of the Dangote Refinery IPO at the Nigerian Exchange (NGX) in Lagos on Monday, September 14, 2026. Photo: Nosakhale Akhimien/Channels Television.
Chief Executive Officer, Nigerian Exchange Limited, Jude Chiemeka; Group Managing Director and Chief Executive Officer, Zenith Bank Plc, Adaora Umeoji; Founder, Zenith Bank Plc, Jim Ovia; Chairman, Coronation Group, Aigboje Aig-Imoukhuede, at the official opening of the Dangote Refinery IPO at the Nigerian Exchange (NGX) in Lagos on Monday, September 14, 2026. Photo: Nosakhale Akhimien/Channels Television.
President and Chief Executive Officer of Dangote Industries Limited, Aliko Dangote, rings the bell to officially open the Dangote Refinery IPO on the floor of the Nigerian Exchange (NGX) in Lagos, receiving cheers from business leaders and other dignitaries at the historic ceremony on Monday, September 14, 2026. Photo: Nosakhale Akhimien/Channels Television.
Group Chairman, Nigerian Exchange Group, Umaru Kwairanga; President and Chief Executive Officer, Dangote Industries Limited, Aliko Dangote; Chief Executive Officer, Dangote Foundation, Halima Aliko-Dangote; Group Managing Director and Chief Executive Officer, Nigerian Exchange Group, Temi Popoola; Governor of Lagos State, Babajide Sanwo-Olu, at the official opening of the Dangote Refinery IPO at the Nigerian Exchange (NGX) in Lagos on Monday, September 14, 2026. Photo: Nosakhale Akhimien/Channels Television
Guests at the official opening of the Dangote Refinery IPO at the Nigerian Exchange (NGX) in Lagos on Monday, September 14, 2026. Photo: Nosakhale Akhimien/Channels Television
L-R: Chairman, Coronation Group, Aigboje Aig-Imoukhuede; Chief Executive Officer and Managing Director, Dangote Refinery, David Bird; Group Chairman, Nigerian Exchange Group, Umaru Kwairanga; Group Executive Director, Commercial Operations, Oil and Gas, WAEP and Fertiliser, Dangote Industries Limited, Fatima Aliko-Dangote; Group Vice President, Oil and Gas and Fertiliser, Dangote Industries Limited, Devakumar V.G. Edwin; President and Chief Executive Officer, Dangote Industries Limited, Aliko Dangote; Group Managing Director and Chief Executive Officer, Nigerian Exchange Group, Temi Popoola; Governor of Lagos State, Babajide Sanwo-Olu; Managing Director/Chief Executive Officer, Vetiva Capital Management Limited, Chuka Eseka, at the official opening of the Dangote Refinery IPO at the NGX in Lagos on Monday, September 14, 2026. Photo: Nosakhale Akhimien/ChannelsTV
Aliko Dangote speaking after the official opening of the Dangote Refinery IPO at NGX in Lagos on Monday, September 14, 2026. Photo: Nosakhale Akhimien/Channels TV
Business leaders at the Dangote refinery IPO official opening. Photo: Nosakhale Akhimien/Channels TV
Dangote Refinery. Photo: Nosakhale Akhimien/Channels TV
Dangote Refinery. Photo: Nosakhale Akhimien/Channels TV
NNPCL trucks lining up for petrol loading at the Dangote Refinery.
The Dangote Refinery in Nigeria was commissioned in May 2023.
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