Key Takeaways
- Offer Window: Opens September 14, 2026; scheduled to close October 13, 2026.
- Offer Price & Minimum Entry: ₦525 per share; minimum entry is 10 shares (₦5,250).
- Offer Size & Valuation: 4.1 billion ordinary shares targeting ₦2.15 trillion to expand processing capacity to 1.4 million barrels per day.
- Application Requirement: Must have a licensed broker, Bank Verification Number (BVN), and Central Securities Clearing System (CSCS) account.
Dangote Petroleum Refinery and Petrochemicals FZE opens subscription for Africa’s largest Initial Public Offering on Monday, September 14, 2026, offering 4.1 billion ordinary shares at ₦525 per share to raise ₦2.15 trillion.
The capital injection will part-fund an operational expansion raising output from 650,000 to 1.4 million barrels per day. The offer documents were formally executed on September 7, 2026, at Eko Hotels in Lagos by Dangote Group CEO Aliko Dangote alongside transaction lead Vetiva Advisory Services.
The public offer follows a $2.5 billion private placement in July that closed 270 percent oversubscribed. With an entry threshold pegged at 10 shares for ₦5,250, retail buyers can participate directly through official market infrastructure.
Step-by-Step Guide to Buying Dangote Refinery IPO Shares
Step 1: Set Up a Brokerage Account
Trading on the Nigerian Exchange (NGX) requires a brokerage account with an SEC-registered firm. New investors can register online by providing a Bank Verification Number (BVN), government-issued ID, and passport photograph.
Step 2: Open or Link a CSCS Account
All NGX equities settle electronically through the Central Securities Clearing System (CSCS). Your registered stockbroker creates or links this electronic clearing account to hold allotted shares upon listing.
Step 3: Complete Identity Verification
Submit Know-Your-Customer (KYC) compliance documents specified by your broker to fully activate trading permissions ahead of the subscription window.
Step 4: Fund Your Investment Account
Credit your brokerage cash account prior to the September 14 start date. The minimum purchase of 10 units costs ₦5,250, with larger purchases scaling in multiples determined by the final prospectus.
Step 5: Verify the Official Subscription Window
The order book runs from September 14 through October 13, 2026. Rely exclusively on the formal prospectus cleared by the Securities and Exchange Commission (SEC) to confirm final closing dates.
Step 6: Submit the Application Via Authorized Channels
File your share order through approved receiving agents, licensed brokers, or designated fintech portals such as NGX Invest. Avoid unverified third parties soliciting cash outside authorized banking and exchange platforms.
Step 7: Await SEC-Approved Allotment
High demand may trigger scaled-down allotments if the issue is oversubscribed. Approved shares will be credited directly to your CSCS account, while unallotted capital must be refunded under terms set in the offer prospectus.
Step 8: Monitor Holdings on the Nigerian Exchange
Following official listing on the NGX, investors can track equity performance, collect declared dividends, or sell shares through their broker at prevailing secondary market prices.
