Billionaire Aliko Dangote on Monday formally opened the initial public offering of Dangote Petroleum Refinery and Petrochemicals on the Nigerian Exchange, offering 4.1 billion shares that could raise up to N2.15 trillion.
Dangote, president of Dangote Industries Limited, sounded the gong on the NGX trading floor in Lagos to mark the start of the offer, the first time a refinery has been listed on the exchange in its 66-year history.
The IPO, which began on Monday, prices the new ordinary shares at N525 each, with a minimum subscription of 10 shares valued at N5,250. The offer is due to close on October 13, 2026, subject to the terms of the prospectus.
Speaking at the ceremony, Dangote said the listing formed part of efforts to expand ownership of his businesses.
“We will lease every company that we operate,” he said.
Here is what we now know:
- Offer price: ₦525 per share Minimum subscription: 10 shares
- Minimum investment: ₦5,250
- Offer opens: September 14, 2026
- Offer closes: October 13, 2026.
The offer is open to retail, institutional and eligible African investors seeking a stake in Africa’s largest refinery. Lagos State Governor Babajide Sanwo-Olu attended the event alongside members of the Dangote family, including two of the industrialist’s daughters.
The listing is expected to increase public participation in the refinery’s ownership and boost activity on Nigeria’s capital market.
