The Dangote Petroleum Refinery and Petrochemicals has commenced its Initial Public Offering (IPO) on the Nigerian Exchange Limited (NGX), becoming the first refinery to be offered to investors on the Nigerian stock market.
The IPO was launched on Monday, September 14, 2026, with Aliko Dangote, President of Dangote Industries Limited, participating in the ceremonial gong-ringing at the NGX trading floor in Lagos.
The offer consists of 4.1 billion ordinary shares priced at ₦525 per share, with the refinery seeking to raise approximately ₦2.15 trillion from the exercise. Investors can subscribe for a minimum of 10 shares, valued at ₦5,250.
The funds raised are expected to support the refinery’s expansion plans, including a proposed increase in its refining capacity. The IPO gives retail and institutional investors an opportunity to acquire an ownership stake in the refinery, one of Nigeria’s biggest industrial projects.
The offer is scheduled to close on October 13, 2026, with the company expected to proceed with its listing on the NGX Main Board later in the year.