Dangote Refinery Opens Landmark Initial Public Offering Today to the Investing Public

Dangote Petroleum Refinery & Petrochemicals FZE has begun its Initial Public Offering (IPO), marking a groundbreaking event in Nigeria's economic landscape and the growth of Africa's financial markets. The IPO launch will occur at a ceremony on the trading floor of the Nigerian Exchange (NGX) in Lagos, offering the general public their first chance to invest in Africa's largest refinery and among the world's biggest industrial ventures.

The IPO commenced today, September 14, 2026, with the sale of 4.1 billion new ordinary shares at N525 per share, priced at a minimum subscription of 10 shares valued at N5,250. The offering runs until October 13, 2026, according to the Prospectus. Retail, institutional, and eligible African investors are invited, aligning with Dangote Refinery's dedication to expanding ownership and deepening its involvement in Nigeria's financial market.

It is anticipated that the public offering will generate around N2.15 trillion, positioning it as one of the most substantial equity deals ever seen in Africa. The funds raised will fuel the Refinery's long-term growth objectives, operational expansion, strategic investments, and enhancement of value for shareholders and stakeholders.

Dangote Industries Limited President and CEO Aliko Dangote commented on the IPO's importance, stating that it symbolizes the start of a groundbreaking era for Dangote Refinery and the economic trajectory of the nation. This offering transcends raising capital; it aims to provide Nigerians, Africans, and global investors with a direct stake in one of Africa's most transformative industrial undertakings.

Dangote Refinery was established to revolutionize Africa's energy scene, generate employment, save foreign exchange, and foster shared prosperity. Through this IPO, the vision extends further by democratizing ownership, ensuring millions can reap the benefits of the value being generated. Dangote Industries aims to build a globally competitive enterprise that will continue to redefine the future of energy, manufacturing, and economic development across Africa.

Nigerian Exchange Group Group Managing Director and CEO Temi Popoola emphasized the significance of the IPO for Nigeria's capital market. She noted that the transaction is essential, not only due to its scale but for the broader principles it embodies. She highlighted the need for greater public participation in the value created by Nigeria's most vital businesses, emphasizing the importance of broadening ownership, increasing access, and forging stronger connections between Nigerian enterprises and capital.

Popoola emphasized that the NGX Group has been actively developing the necessary infrastructure to facilitate this participation. Through NGX Invest and connectivity across over 50 distribution channels, including stockbrokers, banks, and fintechs, they aim to make public-market participation more accessible. This approach represents the development of an ownership economy: robust Nigerian businesses accessing long-term capital and more Nigerians having the opportunity to participate in their growth.

Dangote Refinery has become a crucial national asset, bolstering energy security, decreasing reliance on imported refined products, conserving foreign exchange, and positioning Nigeria as a leading exporter of petroleum products. Since operations commenced, the Refinery has delivered premium-quality petroleum products to domestic and international markets, supporting industrial expansion and economic advancement throughout the region.

The Company assured that investing in the offer is designed to be accessible, transparent, and technology-driven. Eligible investors can subscribe via approved channels, such as NGX Invest, designated commercial banks, and authorized investment platforms, in accordance with the provisions outlined in the Prospectus. As the commencement ceremony unfolds on the NGX floor today, Dangote Refinery reiterated its commitment to operational excellence, robust corporate governance, sustainable growth, and long-term value creation for shareholders.