The Dangote Petroleum Refinery will open its initial public offering (IPO) on September 14, 2026, allowing Nigerians and other eligible investors to buy shares in Africa's largest single-train refinery. The offer comprises 4.1 billion ordinary shares priced at ₦525 each, targeting a total of ₦2.15 trillion.
Subscription Details and Minimum Investment
Investors can subscribe to the IPO through a network of approved banks, fintech platforms, and mobile money operators. The minimum subscription is 10 shares, costing ₦5,250, designed to ease participation for retail investors. Subscriptions are also available via NGX Invest, the Nigerian Exchange's electronic public offering platform.
The official Dangote Refinery IPO website lists all approved channels and warns investors to use only these platforms. It also advises against sharing PINs, passwords, or OTPs with anyone, and urges applicants to read the offer documents carefully before applying.
Approved Banks and Fintech Platforms
The approved banks include Access Bank, Ecobank, FCMB, Fidelity Bank, FirstBank, Globus Bank, GTCO, Jaiz Bank, Keystone Bank, Lotus Bank, PremiumTrust Bank, Providus Bank, Stanbic IBTC, Sterling Bank, TAJ Bank, UBA, Union Bank, Wema Bank, and Zenith Bank—19 in total.
The fintech platforms approved for subscription are Bamboo, Flutterwave, InvestNaija, Ladder, Moniepoint, Paga, Payaza, PiggyVest, Vetiva Invest, and we.yan. Mobile operators Airtel SmartCash and MTN MoMo are also listed as approved channels, alongside NGX Invest.
Investor Guidance and Next Steps
According to the official IPO platform, investors should only transact through the listed approved channels to avoid fraud. The offer documents provide full details on the share structure, pricing, and subscription process.
As the September 14 opening date approaches, eligible investors are encouraged to prepare their accounts and payment methods through the approved banks and fintechs. The IPO represents a significant opportunity for public participation in one of Africa's most strategic industrial assets.
