PiggyVest has launched a digital subscription route for its 6.6 million users to buy shares in the Dangote Petroleum Refinery and Petrochemicals FZE Initial Public Offering (IPO), which opened on September 14 and will close on October 13, 2026. The savings and investment platform partnered with Chapel Hill Denham, one of the joint issuing houses for the offer, to allow eligible users to subscribe directly through its app.
The Dangote Refinery is selling 4.1 billion ordinary shares at N525 each, with a minimum purchase of 10 shares, meaning Nigerians can participate with as little as N5,250. At the offer price, the share sale is expected to raise approximately N2.15 trillion, with proceeds earmarked for the refinery's expansion and growth plans.
Digital Distribution Expands IPO Access
Lanre Buluro, Managing Director of Capital Markets at Chapel Hill Denham, said during an interview with Arise News that digital distribution channels are being used to make the IPO accessible to a wider pool of investors. The arrangement means PiggyVest users can participate through a platform they already use rather than relying solely on traditional stockbroking channels.
PiggyVest co-founder and Chief Marketing Officer Joshua Chibueze said the company particularly wants to simplify the process for Nigerians buying shares for the first time. "We know that for many Nigerians, this could be their first time buying shares," Chibueze said, adding that the platform was designed to reduce the complexity associated with entering the stock market.
How to Subscribe via PiggyVest
Eligible investors can log in to their PiggyVest accounts and locate the Dangote Refinery IPO investment option on the platform. Users then follow the subscription process, including providing or obtaining the necessary Central Securities Clearing System (CSCS) details required to hold shares.
Investors select the number of shares they want, starting from the minimum of 10 shares worth N5,250, review the information provided, and complete payment through the available process. Chibueze said PiggyVest has simplified steps ranging from obtaining CSCS details to completing a first share subscription.
Wealth-Building Strategy and Market Impact
Co-founder and Chief Operations Officer Odunayo Eweniyi said the partnership fits PiggyVest's broader strategy of exposing its users to wealth-building opportunities as Nigeria's capital market expands. For millions of Nigerians who have never bought publicly offered shares, the partnership provides another digital route into the capital market while allowing retail investors to seek ownership in the Dangote Refinery.
Legit.ng earlier reported that Aliko Dangote, President and Chief Executive Officer of Dangote Industries Limited, projected a significant increase in the value of Dangote Refinery shares, saying the stock could eventually rise from its proposed offer price of N525 to N10,000 per share. Dangote made this prediction during an interview with Abis Fulani, published on X (formerly Twitter) on Saturday, September 12, 2026, in a post shared by Imran Muhammad.
