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The Dangote Petroleum Refinery has commenced its highly anticipated initial public offering, opening a ₦2.15 trillion share sale to investors through the Nigerian Exchange.
The offer involves 4.1 billion ordinary shares priced at ₦525 each. The transaction is expected to become Africa’s largest IPO to date if fully subscribed.
The funds raised will support the refinery’s expansion plans, including increasing its processing capacity from about 700,000 barrels per day to 1.4 million barrels per day. The company is also seeking to broaden public ownership of the facility.
The offer is open to retail investors, with applications available through digital investment channels. The subscription period is expected to run until October 13, 2026, while trading of the shares could begin later in November.
The IPO marks a major development for Nigeria’s capital market, giving members of the public an opportunity to acquire an interest in one of the country’s largest industrial projects.
