IPO

For decades, the NNPC Limited has occupied a central but complicated position in Nigeria’s economy. It is simultaneously a commercial enterprise, a custodian of the country’s interests in the petroleum industry and a strategic instrument of government energy policy. Reconciling these responsibilities with the discipline required of a modern commercial enterprise has remained a defining challenge.

The Nigeria Inter-Bank Settlement System (NIBSS) is fundamentally transforming the country’s payment infrastructure to facilitate widespread participation in initial public offerings and privatization transactions.

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 IPO could become one of the largest capital market transactions in Nigeria, with the refinery offering 4.1 billion ordinary shares at ₦525 per share. If fully subscribed, the offer is expected to raise approximately ₦2.15 trillion.

Dangote Group disclosed the approval on Friday, bringing the refinery closer to what is expected to be one of Africa’s largest equity offerings. At the offer price, the shares are worth about ₦2.15 trillion if fully subscribed.