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Dangote Petroleum Refinery has launched a N2.15 trillion Initial Public Offering (IPO) on the Nigerian Exchange.
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The refinery is offering 4.1 billion new ordinary shares at N525 per share, with a minimum subscription of 10 shares.
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The offer opened on September 14, 2026, and is scheduled to close on October 13, 2026.
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Aliko Dangote said the IPO forms part of plans to widen public ownership across Dangote Group companies.
September 14, (THEWILL) – Dangote Petroleum Refinery and Petrochemicals on Monday opened its Initial Public Offering (IPO) on the Nigerian Exchange (NGX), offering 4.1 billion new ordinary shares at N525 each.
The offer, valued at about N2.15 trillion, was formally launched by President of Dangote Industries Limited, Aliko Dangote, who sounded the closing gong at the NGX trading floor in Lagos.
The listing marks the first time in the NGX’s 66-year history that a refinery has offered shares for public subscription on the Nigerian stock market.
The IPO opened on September 14, 2026, and is scheduled to close on October 13, subject to the terms and conditions contained in the offer prospectus.
Under the offer, investors can subscribe to a minimum of 10 shares, requiring an initial investment of N5,250.
The offer is open to retail and institutional investors, as well as other eligible investors across Africa, giving the public an opportunity to acquire equity in the refinery.
Speaking at the ceremony, Dangote said the decision to take the refinery public formed part of a broader plan to widen ownership of businesses within the Dangote Group.
“We will list every company that we operate,” Dangote said.
We are going to fully share all our prosperity with the people, that is why we call this the people’s IPO. We, as a group, will list every single company that we operate. Our own market, even at a 10 times P/E ratio by 2030, should not be less than $350 billion.
– Aliko Dangote pic.twitter.com/IyrDa5kiqQ
— Imran Muhammad (@Imranmuhdz) September 14, 2026
The public offer represents a significant step for the refinery, which began production after years of construction and substantial investment, and could broaden investor exposure to Nigeria’s downstream petroleum sector.
Lagos State Governor Babajide Sanwo-Olu attended the launch alongside members of the Dangote family and other guests.
The success of the offer will be closely watched by investors as the company seeks to raise capital from the Nigerian equities market and expand public participation in the refinery’s ownership.
Segun Adeyemi serves as the Associate Editor of THEWILL Newspaper, leveraging more than ten years of editorial expertise and a proven track record in mainstream journalism.
