Aliko Dangote, President of Dangote Industries Limited, on Monday officially opened the share sale of Dangote Petroleum Refinery and Petrochemicals at the Nigerian Exchange Limited in Lagos.
Dangote commenced the Initial Public Offering by sounding the ceremonial gong on the trading floor of the NGX, marking what is described as the first time a refinery has been listed for public investment on the Nigerian stock market in the Exchange’s 66-year history.
The offer, which commenced on September 14, 2026, comprises 4.1 billion new ordinary shares priced at N525 each.
Investors can subscribe to a minimum of 10 shares, requiring an investment of N5,250, while the offer is expected to close on October 13, 2026, subject to the terms and conditions contained in the prospectus.
The exercise could generate about N2.15tn for the refinery if all the shares on offer are fully subscribed.
Speaking at the launch, Dangote said the public offering was designed to expand Nigerians’ participation in the ownership of companies under his business group.
“We will lease every company that we operate,” he said.
The IPO is open to retail and institutional investors as well as eligible investors across Africa, giving them an opportunity to acquire an interest in Dangote Refinery, described as Africa’s largest refinery.
The event attracted prominent personalities, including Lagos State Governor Babajide Sanwo-Olu, members of the Dangote family and other associates of the businessman.
With the commencement of the offer, investors can now begin subscribing for shares in the refinery.
