Dangote Petroleum Refinery and Petrochemicals FZE has commenced the sale of its IPO shares today, September 14, 2026, with the offer expected to close on October 13, 2026.
On Monday, September 7, 2026, Dangote Group Chief Executive Officer, Aliko Dangote, signed the offer documents at a ceremony held at Eko Hotels and Suites, Victoria Island, Lagos, alongside the advisers and issuing houses managing the sale.
The offer comprises 4.1 billion ordinary shares priced at N525 each, with the company targeting about N2.15 trillion to part-fund an expansion that would nearly double the refinery’s capacity to 1.4 million barrels per day.
Investors can subscribe for a minimum of 10 shares at a cost of N5,250.
Dangote said the low entry threshold was deliberately set to allow ordinary workers, including drivers, cooks and domestic staff, to become shareholders. He described the offer as “the IPO for the people.”
Lagos-based Vetiva Advisory Services Limited is coordinating the capital raise, which follows approval from the Securities and Exchange Commission.
The minimum application is 10 shares at N5,250, while further applications can be made in multiples specified in the prospectus.
If fully subscribed, the offer could raise about N2.15 trillion, with payment required in full at the time of application.
Following the conclusion of the offer, the shares are expected to be listed on the Main Board of the Nigerian Exchange.
The issuer may also absorb up to 30 per cent above the offer size, subject to approval from the Securities and Exchange Commission.
To apply for the Dangote Refinery IPO, investors are required to have a licensed SEC-registered investment account, a CSCS account and sufficient funds in their account.
Dangote Petroleum Refinery and Petrochemicals FZE has also approved 55 banks, fintech companies, mobile operators and other platforms through which investors can subscribe for its shares.
The company published the list of approved channels on its official IPO website and warned investors to subscribe only through the channels listed on the platform.
The company said, “Only subscribe through the channels listed on this page. Do not subscribe through any channel not confirmed here.”
STEP 1: SET UP A BROKERAGE ACCOUNT
Ordinary shares listed on the Nigerian Exchange are purchased through licensed stockbroking firms rather than directly from the company.
Investors who do not already have a trading account will need to open one with a broker registered by the Securities and Exchange Commission and the Nigerian Exchange.
Many brokers now offer online registration, with applicants typically required to provide their Bank Verification Number, a valid means of identification and a passport photograph as part of the Know-Your-Customer process.
Investors are advised to confirm the registration status of their chosen broker with the SEC or NGX before committing funds.
STEP 2: LINK OR OPEN A CSCS ACCOUNT
Shares are held electronically through the Central Securities Clearing System rather than issued as physical certificates.
When an investor opens a trading account, the broker will typically assist in setting up a CSCS account or linking an existing one. Any shares allotted to an investor through the IPO will be credited to the CSCS account once the relevant process is completed.
STEP 3: COMPLETE IDENTITY VERIFICATION
The chosen broker will require investors to submit the necessary documents to verify their identity and activate their trading account before they can subscribe to the offer.
Requirements may vary from one brokerage firm to another, so investors should follow the documentation checklist provided by their chosen broker.
STEP 4: FUND YOUR ACCOUNT AHEAD OF THE OFFER
Once the brokerage account is active, investors should deposit the amount they intend to use for the subscription.
At N525 per share, the minimum application of 10 shares costs N5,250. Investors applying for more shares should confirm the applicable multiples and other requirements in the final prospectus before submitting their applications.
With the subscription window opening on September 14, investors are advised to have their accounts and funds ready before applying through any of the approved channels.
See the list of 55 approved channels to buy Dangote’s IPO
In conclusion, Dangote Petroleum Refinery and Petrochemicals FZE has taken to social media to send strong messages to all and sundry as the buying of the IPO shares kicks off today.
Dangote IPO, through its official website, disclosed that share prices can rise or fall after listing. Investing in shares involves risk, and you could lose some or all of the money you invest.
Before subscribing, read the Prospectus, including the Risk Factors section.
Watch the moment Dangote rings Gong at NGX as NGN525/Share Refinery IPO opens;
🚨NIGERIANS BE CAREFUL 🙂
— Lord Zeus CFC/RM (@LordZeus_Usulor) September 14, 2026
My Take On Dangote IPO shares:
Anything wey reach poor man hand regarding how to make money, if you look am well you go know sey na poor man go lose.
Dangote IPO won’t make you millionaire with 5k even in 10years to come.
If Dangote wants to help… pic.twitter.com/wo1ao1TPOI
