Dangote Refinery Fixes Minimum Subscription for IPO at N5,250

By Dipo Olowookere

It has been confirmed that the much-awaited initial public offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE will commence on Monday, September 14, 2026.

Business Post gathered that the exercise will last for a month, and the shares will be sold to investors at N525 per unit. After the IPO, the stocks would be listed on the main board of the Nigerian Exchange (NGX) Limited.

Today, the IPO’s signing ceremony took place in Lagos and was attended by the owner of the oil facility, Mr Aliko Dangote.

It was learned that the IPO will be open to retail investors. They will be able to be part of the company with at least N5,250, amounting to 10 shares.

Mr Dangote explained that this was done to allow many Nigerians to have a slice of the pie, as the refinery belongs to all.

The Dangote Refinery cost about $20 billion to set up and at the moment, it is worth about $40 billion.

It was gathered that the IPO is positioned not simply as a capital-raising exercise, but as an opportunity for workers, entrepreneurs and everyday Nigerians to participate in the refinery’s future growth.

The offering, targeting just over N2 trillion, is being presented as the biggest IPO in Africa’s history, marking a defining moment for Nigeria’s capital market and industrial story

The refinery is envisioned as more than a business venture; it is a platform for creating jobs, generating prosperity and contributing to the economic transformation of Nigeria and Africa.

It also represents a strategic step toward strengthening Nigeria’s energy security, reducing dependence on imported petroleum products and supporting industrial development