Dangote Refinery IPO Kicks Off, Attracts Major Investor Attention

The much-anticipated Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals officially opened today, September 14, giving Nigerians and investors an opportunity to acquire shares in one of Africa’s biggest industrial projects.

The company is offering 4.1 billion ordinary shares at ₦525 per share, seeking to raise approximately ₦2.15 trillion. The offer is expected to run until October 13, 2026.

The landmark IPO is attracting significant attention across Nigeria’s financial and investment community, as it represents an opportunity for members of the public to become part-owners of the Dangote Refinery.

The refinery, located in Lagos, has a production capacity of about 700,000 barrels per day and has become a major player in Nigeria’s petroleum industry. Dangote plans to further expand its capacity as part of its long-term strategy to strengthen refining and petroleum-product supply in Nigeria and across Africa.

Proceeds from the IPO are expected to support the company’s expansion plans, while the transaction could also deepen public participation in Nigeria’s capital market.

Financial experts and investors will now be watching subscription levels closely as the offer progresses, with expectations that the listing could become one of the most significant transactions in the history of the Nigerian Exchange.