UPDATED: Dangote refinery opens N2.15tn IPO on NGX

The Nigerian Exchange (NGX) witnessed the opening of Dangote Refinery's N2.15tn Initial Public Offering (IPO) on Monday, September 14, 2026. President Aliko Dangote sounded the gong at the NGX in Lagos to formally commence the IPO, marking the first refinery to be offered to investors on the Nigerian stock market in the Exchange's 66-year history.

The IPO comprises 4.1 billion new ordinary shares offered at N525 per share, with a minimum subscription of 10 shares valued at N5,250. The offer is open to retail, institutional, and eligible African investors, providing them with an opportunity to acquire an interest in the refinery. Dangote emphasized the IPO as a means of widening public participation in the ownership of the company, describing it as the "People's IPO" and underscoring the broader plan to bring more Dangote Group companies to the capital market.

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