Dangote Petroleum Refinery has officially launched its initial public offering (IPO), opening what is being described as Africa’s largest-ever share sale to public investors.
The company is offering 4.1 billion shares at ₦525 per share, with the offer expected to raise about ₦2.15 trillion if fully subscribed. The IPO opened on Monday, September 14, 2026, and is expected to close on October 13.
The offer has been described as a “people’s IPO”, as ordinary Nigerians can participate with a minimum purchase of just 10 shares, costing ₦5,250. The move is aimed at allowing retail investors to own a stake in one of Africa’s biggest industrial projects.
The refinery, located in Lagos, currently has a production capacity of about 700,000 barrels per day. Funds raised from the IPO are expected to support plans to expand capacity to 1.4 million barrels per day in the coming years.
