Dangote Petroleum Refinery and Petrochemicals FZE on Monday officially opened its Initial Public Offering. The company launched the offer on the trading floor of the Nigerian Exchange in Lagos.
Aliko Dangote, President and Chief Executive of Dangote Industries Limited, sounded the gong to mark the start. The IPO offered 4.1 billion new ordinary shares at N525 each.
Investors could subscribe for a minimum of 10 shares valued at N5,250. The offer aimed to raise approximately N2.15 trillion. It targeted retail, institutional and eligible African investors.
The public offer remained open until October 13, 2026. Proceeds would support the refinery’s long-term growth plans and operational expansion.
Dangote spoke on the significance of the moment. “Today marks the beginning of a new chapter in the history of Dangote Refinery and, indeed, in the economic future of our nation,” he said.
He added that the IPO sought to broaden ownership and give millions of investors a stake in a world-class enterprise. “There is no segregation on who can own these shares. We want everyone to own a share,” Dangote stated.
Meanwhile, the 700,000 barrels-per-day facility planned to expand capacity to 1.4 million barrels per day. The transaction ranked among the largest equity offerings ever undertaken in Africa.
Lagos State Governor Babajide Sanwo-Olu and other dignitaries attended the ceremony. The shares were scheduled for listing on the Nigerian Exchange after the offer closed.
