The Dangote Refinery has formally commenced its Initial Public Offering (IPO) on the Nigerian Exchange (NGX), marking a historic development in Nigeria’s capital market.
The offering is the first time a petroleum refinery has been opened to public investors on the NGX in its 66-year history.
The IPO seeks to raise ₦2.15 trillion through the issuance of 4.1 billion new ordinary shares at ₦525 per share.
To encourage wider retail participation, investors can subscribe for a minimum of 10 shares, costing ₦5,250.
The subscription period runs from September 14 to October 13, 2026.
Described as the “People’s IPO,” the offer is designed to expand local ownership of one of Africa’s largest industrial assets.
Speaking after the launch ceremony, Dangote Group President Aliko Dangote said the refinery listing marks the beginning of a broader plan.
He said the group intends to list all its operating companies on the Nigerian capital market.
The move could significantly deepen public participation in the ownership of major businesses within the Dangote Group.
