President of Dangote Industries Limited, Aliko Dangote, on Monday sounded the gong at the Nigerian Exchange (NGX) to formally launch the Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals.
The ceremony, held at the NGX trading floor in Lagos, marks the first time a refinery has been offered on the Nigerian stock market in the Exchange’s 66-year history.
The IPO offers 4.1 billion new ordinary shares at N525 per share, with a minimum subscription of 10 shares valued at N5,250.
The offer opened on September 14 and is scheduled to close on October 13, 2026, subject to the terms contained in the prospectus.
The share sale is expected to raise up to $2.1 billion for the refinery’s expansion. Dangote has described the offering as a “people’s IPO”, positioning it as an opportunity for ordinary Nigerians to participate in the growth of the refinery.
The roughly 3% stake being offered makes the transaction one of the largest public share offerings in Africa.
For Nigerian investors, the IPO also puts renewed attention on the importance of understanding the stock market, building investment knowledge and considering ownership as part of long-term wealth creation.
