Dangote Petroleum Refinery and Petrochemicals FZE on Monday opened its N2.15 trillion initial public offering, giving investors an opportunity to acquire shares in Africa’s largest refinery.
The offer comprises 4.1 billion new ordinary shares at N525 each, with a minimum subscription of 10 shares, valued at N5,250.
The offer will close on October 13, 2026, subject to the terms of the prospectus, and is open to retail, institutional and eligible African investors.
The N2.15 trillion offer ranks among the largest equity offerings in Africa. Dangote said the proceeds would be used to support the refinery’s expansion, strategic investments and long-term growth.
The company said the IPO would also broaden ownership of the refinery and deepen participation in Nigeria’s capital market.
Dangote Industries President and Chief Executive Officer, Aliko Dangote, said the offer would allow Nigerians, Africans and international investors to participate directly in the refinery’s growth.
“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,” he said.
The Nigerian Exchange Group’s Group Managing Director and Chief Executive Officer, Temi Popoola, said the transaction could help expand public participation in major Nigerian businesses.
The refinery has been positioned as a strategic asset for reducing Nigeria’s dependence on imported petroleum products, conserving foreign exchange and increasing the country’s refining capacity.
Eligible investors can subscribe through approved channels, including NGX Invest, designated commercial banks, stockbrokers and authorised investment platforms.