Every second brings Nigerians closer to exercising their democratic right and shaping the future of our nation.
Exercise your democratic right responsibly, peacefully and lawfully.
The initial public offering of Dangote Petroleum Refinery and Petrochemicals has ended with applications from investors in 120 countries, marking a significant milestone for the company and Africa’s investment market.
The offer, which closed on Tuesday, October 27, 2026, attracted interest from all 54 African countries and investors across the six inhabited continents. The development highlights the growing willingness of individuals and institutions to invest in major African businesses.
President and Chief Executive of Dangote Industries Limited, Aliko Dangote, said the widespread participation demonstrated that Africans were increasingly interested in owning stakes in industries established on the continent rather than merely consuming their products.
According to him, the public offer was designed not only to raise funds but also to give more people an opportunity to benefit from the refinery’s growth and contribute to Africa’s industrial development.
The IPO commenced on September 14, with 4.1 billion ordinary shares offered at ₦525 per share. The exercise was expected to generate approximately ₦2.15 trillion before its closing date was extended from October 13 to October 27, following approval from the Securities and Exchange Commission.
Managing Director and Chief Executive Officer of Dangote Petroleum Refinery and Petrochemicals, David Bird, said the international response reflected investors’ confidence in the refinery’s capacity, operations and future growth prospects.
He explained that the company would concentrate on improving operational efficiency, expanding its business and delivering sustainable returns to shareholders.
The Group Chief Financial Officer of Dangote Industries Limited, Murat Erden, also described the outcome as an important development for African capital markets, noting that collaboration among banks, stockbrokers, financial technology companies and other distribution partners helped widen access to the offer.
The refinery is pursuing plans to expand its refining and petrochemical operations while strengthening its contribution to Africa’s energy security. The successful conclusion of the IPO is expected to broaden participation in the ownership of one of the continent’s major industrial investments.
