Oyindamola Ogunbowale
The Dangote Petroleum Refinery has officially opened its highly anticipated initial public offering (IPO), giving eligible investors an opportunity to own a stake in one of Africa’s biggest industrial projects.
The public offer gives Nigerians an opportunity to become part-owners of the Dangote Petroleum Refinery, with 4.1 billion shares being offered at ₦525 per share.
The IPO is being positioned as Africa’s largest-ever public share offering and is designed to make ownership of the refinery accessible to ordinary investors.
Investors can subscribe for a minimum of 10 shares, meaning participation starts from ₦5,250.
Additional shares can be purchased in multiples of 10.
If fully subscribed, the offer is expected to raise about ₦2.15 trillion.
The offer will remain open until October 13, 2026.
The refinery, located in Lagos, began operations in 2024 and has grown into a major supplier of refined petroleum products, including petrol, diesel and aviation fuel.
The company currently has a processing capacity of about 700,000 barrels of crude oil per day and plans to expand that capacity to 1.4 million barrels per day.
Funds raised through the IPO will partly support the refinery’s expansion and petrochemical development plans, while also strengthening its capacity to raise additional capital in the future.
The public offer comes as the refinery continues to attract attention over its growing role in Nigeria’s fuel supply and its emergence as a major player in the international petroleum market.
For investors, however, the ₦525 offer price is not a guarantee of future returns.
Once the shares begin trading, their market value can rise or fall depending on the company’s performance and wider market conditions.
With the offer now open, the Dangote Refinery IPO marks a major moment for Nigeria’s capital market, potentially putting ownership of one of the country’s most prominent private industrial investments into the hands of a much wider pool of Nigerians.
