Dangote Petroleum Refinery & Petrochemicals FZE has opened its initial public offering (IPO), giving investors a chance to own part of Africa’s largest refinery.
The Dangote Refinery IPO officially opened on September 14, 2026, with a launch ceremony at the Nigerian Exchange (NGX) trading floor in Lagos. The offer includes 4.1 billion new ordinary shares priced at N525 each. Investors can subscribe for at least 10 shares, worth N5,250.
The offer is expected to close on October 13, 2026, subject to the terms in the Prospectus. It targets retail and institutional investors, as well as eligible investors across Africa.
The Dangote Refinery IPO could raise about N2.15 trillion, making it one of Africa’s biggest equity offerings. The company said it will use the funds to support long-term growth, expand operations, make strategic investments and create more value for shareholders.
Dangote Industries Limited President and Chief Executive, Aliko Dangote, described the IPO as a new chapter for the refinery and Nigeria’s economy.
“Today marks the beginning of a new chapter in the history of Dangote Refinery and, indeed, in the economic future of our nation. This offering is about more than raising capital; it is about creating an opportunity for ordinary Nigerians, Africans, and investors across the globe to participate directly in one of the most transformative industrial projects ever built on the continent.
We established this refinery to transform Africa’s energy landscape, create jobs, conserve foreign exchange, and unlock shared prosperity. With this IPO, we are extending that vision by democratising ownership and ensuring that millions of people can benefit from the value being created.”
NGX Group CEO Temi Popoola said the offer could widen public participation in major Nigerian businesses and strengthen the country’s capital market.
The Dangote Refinery IPO will be available through approved channels, including NGX Invest, designated banks and authorised investment platforms, subject to the Prospectus.
The refinery said the offer reflects its focus on corporate governance, operational excellence, sustainable growth and long-term value creation.
Could the Dangote Refinery IPO transform public ownership in Nigeria?
