The Dangote Petroleum Refinery and Petrochemicals has opened its Initial Public Offering (IPO), seeking to raise about ₦2.15 trillion from investors in what is expected to become one of the largest public offerings in Nigeria’s capital market.
The offer, which opened on Monday, September 14, 2026, involves 4.1 billion ordinary shares priced at ₦525 per share. The minimum subscription is 10 shares, meaning investors can participate with as little as ₦5,250.
The IPO will remain open until October 13, 2026, giving investors across the country an opportunity to buy shares in the refinery ahead of its proposed listing on the Nigerian Exchange.
Proceeds from the offer will mainly support the refinery’s expansion plans, including increasing its processing capacity from its current level of about 700,000 barrels per day to approximately 1.4 million barrels per day.
The refinery, located in Lagos, began operations in 2024 and has since emerged as a major supplier of refined petroleum products to Nigeria and other markets. Its expansion is expected to further strengthen its position in the regional petroleum products market.
The public offering also represents a major opportunity for Nigerian retail investors to take ownership in one of the country’s largest private-sector industrial projects.
If the offer is fully subscribed, Dangote Refinery will raise approximately ₦2.15 trillion from the IPO. The company has also made provisions for additional shares in the event of oversubscription.
The IPO is being closely watched by investors and capital-market stakeholders because of its size and potential impact on Nigeria’s stock market.
