Moniepoint Microfinance Bank has opened subscriptions for Dangote Petroleum Refinery’s initial public offering (IPO) through its nationwide network of POS agents, allowing Nigerians in all 774 local government areas to buy shares without relying solely on traditional banks or brokerage platforms.
How to Purchase Dangote Refinery Shares via Moniepoint
Prospective retail investors can now subscribe for Dangote Refinery shares at participating Moniepoint agent locations across the country. The offer is also accessible through Moniepoint’s Personal and Business Banking applications, significantly expanding the channels available to Nigerians interested in the IPO.
Dangote Refinery shares are priced at N525 each, with a minimum subscription of 10 shares, putting the minimum investment at N5,250. Under the Moniepoint arrangement, investors can subscribe for up to 500 shares per transaction, equivalent to N262,500 at the offer price.
Expanding Access Beyond Major Financial Centres
The initiative is particularly significant for prospective investors outside Nigeria’s major financial centres, according to a Punch report. Moniepoint said its POS network reaches all 774 local government areas, potentially bringing access to the share offer closer to millions of Nigerians who already use agents for everyday financial transactions.
“Moments like this are exactly why we built Moniepoint the way we did,” Managing Director and Chief Executive Officer of Moniepoint Microfinance Bank, Babatunde Olofin, said. “We have always believed that financial happiness is about more than the ability to transact. It is also about having access to opportunities to grow and build wealth.”
TeamApt Provides Transaction Infrastructure
The initiative combines Moniepoint’s extensive distribution network with the payments infrastructure provided by TeamApt Ltd. TeamApt, a Central Bank of Nigeria-licensed switching and processing company, provides payment infrastructure used by banks and other financial institutions.
“For years, we have been building the rails that quietly power finance across Nigeria, and this is a glimpse of what those rails were built for,” TeamApt Managing Director and Chief Executive Officer Dennis Ajalie said.
The partnership effectively turns familiar digital banking and agent channels into additional gateways for Nigerians seeking to participate in the Dangote Refinery IPO.
Dangote IPO Reaches More Retail Investors
The development comes as Nigeria’s capital market pushes to broaden retail participation and make investment products more accessible to ordinary investors. Using POS agents could help reduce some of the accessibility barriers associated with conventional investment channels, particularly for Nigerians who may not regularly use brokerage platforms.
Dangote Petroleum Refinery, located in Lagos, has a stated processing capacity of 650,000 barrels of crude oil per day. The refinery, owned by Dangote Industries, began commercial operations in 2024 and has since become an important part of Nigeria’s downstream petroleum supply chain.
Legit.ng earlier reported that Nigerians looking to own a stake in Aliko Dangote’s landmark refinery can subscribe for shares through 32 approved banks, fintech platforms, mobile money operators and NGX Invest. Dangote Petroleum Refinery and Petrochemicals FZE published the list on its official IPO website, giving prospective investors a range of channels to access the public offer.
