Nigerians seeking to acquire a stake in Aliko Dangote's refinery can now subscribe to shares through 32 approved channels, including banks, fintech platforms, mobile money operators, and NGX Invest. Dangote Petroleum Refinery and Petrochemicals FZE published the list on its official initial public offering (IPO) website, giving prospective investors a range of options.
Share Price and Minimum Subscription
The refinery is offering shares at ₦525 each, with a minimum subscription of 10 shares costing ₦5,250. This provides an opportunity for eligible investors to participate in one of Nigeria's most closely watched industrial projects.
Full List of Approved Banks
The company has approved 19 banks for investors wishing to subscribe to the Dangote Refinery public offer. The banks are:
- 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
- Zenith Bank
Fintech Platforms and Mobile Operators
Investors preferring digital investment services can subscribe through 10 approved fintech platforms: Bamboo, Flutterwave, InvestNaija, Ladder, Moniepoint, Paga, Payaza, PiggyVest, Vetiva Invest, and we.yan. The inclusion of fintech companies offers more options beyond traditional bank branches, especially for those who favor digital financial services.
Two mobile money operators are also on the approved list: Airtel SmartCash and MTN MoMo. NGX Invest, the investment platform of the Nigerian Exchange, is the final approved channel, bringing the total to 32.
Company Warning on Fraud
The company has urged prospective investors to use only the approved subscription channels listed on its official IPO website. "Only subscribe through the channels listed on this page. Do not subscribe through any channel not confirmed here," the company stated. This warning is crucial as public offers can attract fraudulent agents and unofficial payment channels. Investors should verify the platform they intend to use before making payments.
The share offer is part of Dangote Refinery's plan to raise capital from Nigerian investors through the sale of ordinary shares. The refinery, which has attracted significant attention since beginning operations, is seeking to broaden local participation in its ownership. Investors should review the official offer documents, understand the risks, and confirm the applicable subscription terms before committing funds.
What Happens After Buying Shares
Legit.ng earlier reported that for Nigerians looking to buy shares in Dangote Petroleum Refinery and Petrochemicals FZE, submitting an application and making payment are only the beginning of the investment journey. The company is offering 4.1 billion ordinary shares at ₦525 each through its IPO, with a minimum subscription of 10 shares costing ₦5,250. The offer is scheduled to run from September 14 to October 13, 2026.
