Dangote Refinery IPO LIVE: Africa's Biggest Share Sale Kicks Off – Here's How to Invest!

Today marks a pivotal moment in Nigeria's financial landscape as the much-anticipated Initial Public Offering (IPO) of the Dangote Petroleum Refinery officially opens for subscription. Dubbed by Aliko Dangote as the 'People's IPO,' this colossal offering aims to democratize investment in one of Africa's most significant industrial assets. With an ambitious target to raise ₦2.15 trillion (approximately $1.6 billion) if fully subscribed, the Dangote Refinery IPO is set to reshape investor participation and redefine the scale of capital market transactions in the nation.

NGX Invest: Your Digital Gateway to the Dangote Opportunity

In an era driven by digital transformation, the Nigerian Exchange Group (NGX Group) has positioned its official e-offering platform, invest.ngxgroup.com, as the primary digital conduit for this landmark IPO. Launched today, September 14, 2026, the Dangote Petroleum Refinery and Petrochemicals FZE is offering 4.1 billion ordinary shares, priced at ₦525.00 per share, with the subscription window closing on October 13, 2026.

The NGX Invest platform is designed to simplify what was once a complex, paper-intensive process. Investors can seamlessly onboard and verify their identities using their Bank Verification Number (BVN), directly accessing primary market transactions from anywhere. This digital infrastructure, integrating with banks and licensed stockbrokers, ensures unparalleled transparency and security, fostering greater investor confidence in the market.

'There is no segregation on who can own these shares. We want everyone … to own a share.'
— Aliko Dangote, President and Chief Executive Officer, Dangote Group

Investment Details and Future Prospects

The Dangote Refinery IPO presents an accessible entry point for a broad spectrum of investors. A minimum subscription of just 10 shares, translating to ₦5,250, allows ordinary Nigerians to become part-owners of Africa's largest single-train refinery. The refinery, which currently processes between 650,000 to 700,000 barrels of crude oil a day, aims to utilize the proceeds from this IPO to fund significant growth capital expenditure, with plans to double its capacity to 1.4 million barrels per day by 2029.

Upon successful completion of the offer, the shares are proposed for listing on the Main Board of the Nigerian Exchange, marking a new chapter for the company and the Nigerian capital market. Furthermore, eligible retail investors may qualify for an incentive of up to two additional shares at no extra cost, subject to regulatory approval and a prescribed holding period. This initiative underscores the Group's commitment to widening public participation and fostering a robust investment culture.

Scale of the Dangote Refinery IPO

*The 'Average Annual Nigerian Capital Raise' is illustrative for comparison, demonstrating the significant scale of the Dangote IPO.

The engagement across various channels, including banks and fintech platforms, showcases a concerted effort to ensure broad access. As the subscription period unfolds, investors are encouraged to review the offer prospectus diligently and consult with licensed financial advisors to make informed decisions regarding this historic investment opportunity.