Dangote gives retail investors priority in refinery IPO

The Nigerian market has a new opportunity to own a piece of Africa's largest industrial asset: the Dangote Refinery Initial Public Offering (IPO). Scheduled to open on September 14, 2026, the public offer provides 4.1 billion ordinary shares at the rate of ₦525 each. By the time all shares are subscribed, the IPO could raise about ₦2.15 trillion. To make the offer accessible, investors can apply for as few as 10 shares, equaling an investment of ₦5,250, with additional applications in multiples of 10 shares.

i-invest, a digital investment platform, simplifies the process for investors who prefer a mobile experience. Powered by Parthian, a Securities and Exchange Commission-regulated financial services group, the app allows users to complete the IPO subscription process in simple steps. To participate, users need to download or open the i-invest app available on iOS and Android, complete account verification by providing BVN and KYC details, and ensure their CSCS account is set up for electronic holding of shares.

The application process involves funding the i-invest wallet with the desired subscription amount, selecting the Dangote Refinery offer, and submitting the application. The minimum application is 10 shares, costing ₦5,250. While the platform streamlines the process, potential investors should remember that an IPO represents an equity investment.

Share values can fluctuate, and dividends are not guaranteed. Losses could occur, leading to the loss of some or all of the invested capital. Before subscribing, investors are advised to read the prospectus and consult a stockbroker or financial adviser to make an informed decision about the suitability of the investment.