Dangote Petroleum Refinery and Petrochemicals FZE has officially opened its Initial Public Offering (IPO), giving Nigerians and other eligible investors an opportunity to acquire shares in Africa’s largest oil refinery.

The landmark public offer was formally launched on Monday, September 14, 2026, at the trading floor of the Nigerian Exchange (NGX) in Lagos.

Under the offer, 4.1 billion new ordinary shares are being offered at N525 per share, with a minimum subscription of 10 shares, valued at N5,250.

The IPO is scheduled to close on October 13, 2026, subject to the terms and conditions contained in the prospectus.

The offering is targeted at retail and institutional investors as well as eligible investors across Africa. It is expected to raise approximately N2.15 trillion, potentially making it one of the largest equity offerings in Africa.

According to the company, funds raised through the IPO will be deployed towards long-term growth, operational expansion, strategic investments and other initiatives aimed at creating value for shareholders and stakeholders.

Speaking at the launch, President and Chief Executive of Dangote Industries Limited, Aliko Dangote, described the IPO as a new chapter for the refinery and Nigeria’s industrial development.

Dangote said the initiative was designed not merely to raise capital but also to enable ordinary Nigerians, Africans and investors globally to participate directly in the refinery’s growth.

He said the refinery was established to help transform Africa’s energy landscape, create employment, conserve foreign exchange and promote broader economic prosperity.

Dangote added that wider ownership of the company could contribute to wealth creation, strengthen Nigeria’s capital market and promote economic inclusion.

Also speaking, Group Managing Director and Chief Executive Officer of Nigerian Exchange Group, Temi Popoola, said the Dangote Refinery IPO represented an important development for Nigeria’s capital market.

Popoola said the transaction could help strengthen the connection between Nigerian businesses and domestic capital by expanding opportunities for citizens to participate in the growth of major enterprises.

He noted that NGX had continued to develop infrastructure aimed at making public-market investment more accessible, including NGX Invest and more than 50 distribution channels involving stockbrokers, banks and fintech companies.

Dangote Refinery has become a major component of Nigeria’s energy infrastructure since commencing commercial operations, with the company supplying refined petroleum products to domestic and international markets.

The refinery has also been positioned as part of efforts to reduce Nigeria’s reliance on imported refined petroleum products, conserve foreign exchange and strengthen the country’s energy security.

The company said investors can participate through approved channels, including NGX Invest, designated commercial banks and authorised investment platforms, in accordance with the conditions contained in the IPO prospectus.

The commencement of the offer marks a significant transition for Dangote Refinery as it opens its ownership structure to a broader pool of investors while seeking additional capital to support its expansion and long-term operations.