Dangote Refinery

Dangote Petroleum Refinery and several petroleum marketers have reduced petrol prices at major depots following a decline in international crude oil prices.

In an announcement published on September 22, the bank said it was facilitating participation by individual and institutional investors through its digital platforms and branches. Its network covers 33 African countries.

Dangote Petroleum Refinery and Petrochemicals FZE plans to pursue a listing on the New York Stock Exchange after completing the expansion of its Lagos refinery to 1.4 million barrels per day by the first quarter of 2029.

FCMB Group is backing the initial public offering of Dangote Petroleum Refinery and Petrochemicals FZE as the refinery seeks to broaden its ownership base and attract retail, institutional and high-net-worth investors.

Dangote spoke on Monday at the Facts Behind the Offer presentation and Opening Gong Ceremony for the Initial Public Offering of Dangote Petroleum Refinery and Petrochemicals FZE at the Nigerian Exchange in Lagos.

Dangote refinery is already changing Nigeria’s petroleum trade flows. According to the US Energy Information Administration, Nigeria’s seaborne petroleum-product shipments averaged 561,000 barrels per day in the second quarter of 2026, up from 79,000 bpd in 2023.

United Bank for Africa (UBA) Plc has been named one of the authorised financial institutions through which eligible investors can subscribe to Dangote Petroleum Refinery and Petrochemicals FZE’s Initial Public Offering (IPO).

Dangote Refinery’s N2.15 trillion Initial Public Offering (IPO) attracted more than N10 billion in subscriptions within minutes of opening on Monday, signalling strong early investor interest in what is billed as Africa’s largest initial public share offering.

Africa’s biggest refinery opens its doors to public investors with a N2.15 trillion share offer, as Aliko Dangote signals plans to take more group companies public.

The offer comprises 4.1 billion new ordinary shares priced at N525 each, according to a statement issued by the company on Sunday. The minimum subscription is 10 shares, costing N5,250.