The historic signing ceremony for the proposed Dangote Petroleum Refinery and Petrochemicals FZE initial public offering (IPO) has officially concluded at Eko Hotels, Lagos, setting the stage for what is being described as Africa’s largest-ever public share sale.
The landmark N2.15 trillion ($1.6 billion) deal involves 4.1 billion ordinary shares priced at N525 per share, according to details announced at the signing ceremony.
Aliko Dangote, Chief Executive Officer of Dangote Group, said the minimum subscription for everyday investors has been set at 100 ordinary shares, valued at N52,500, with subsequent subscriptions to be made in multiples of 50 shares.
The official application list will open on September 14, 2026, and remain open for exactly 25 days before closing on October 9, 2026.
The IPO will provide investors with an opportunity to acquire an equity stake in the Dangote Petroleum Refinery and Petrochemicals business, which operates one of Africa’s largest petroleum refining facilities.
The development represents a major milestone for Nigeria’s capital market and the Dangote Group, with the offering expected to attract significant interest from both institutional and retail investors.
Speaking during the signing event in Lagos on Monday, Dangote disclosed that the offering had been structured to provide ordinary Nigerians with an opportunity to participate in the landmark transaction.
The refinery, located in the Lekki Free Zone, Lagos, has emerged as a major player in Nigeria’s energy sector, with its large-scale refining operations designed to reduce the country’s dependence on imported petroleum products.
With the application list set to open on September 14, investors will now have a 25-day window to submit applications before the offer officially closes on October 9, 2026.
The N2.15 trillion offering marks a significant development in Nigeria’s capital market and places the Dangote Refinery IPO at the centre of investor attention as the country continues to deepen domestic participation in major economic assets.
