Dangote launches refinery’s N2.15tn IPO on NGX

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President of Dangote Industries Limited, Aliko Dangote, on Monday formally opened the Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals at the Nigerian Exchange (NGX).

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Dangote sounded the closing gong at the NGX trading floor in Lagos to mark the commencement of the offer, making it the first refinery to be listed for public subscription on the Nigerian stock market in the Exchange’s 66-year history.

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The IPO, which opened on Monday, September 14, 2026, comprises 4.1 billion new ordinary shares priced at N525 each.

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Investors can subscribe to a minimum of 10 shares, valued at N5,250, while the offer is scheduled to close on October 13, 2026, subject to the terms and conditions contained in the prospectus.

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Speaking at the ceremony, Dangote said the public offering was part of efforts to expand participation in the ownership of his companies.

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“We will lease every company that we operate,” he said.

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The offer is open to retail and institutional investors, as well as eligible investors across Africa, providing them with an opportunity to acquire a stake in the Dangote Refinery, described as Africa’s largest refinery.

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Lagos State Governor, Babajide Sanwo-Olu, was among dignitaries who attended the ceremony, alongside members of the Dangote family, including two of Dangote’s daughters.

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