Refinery IPO: Dangote woos Nigerians, investors flood NGX

Dangote Petroleum Refinery has launched an Initial Public Offering on the Nigerian Exchange, attracting significant investor interest. The refinery, owned by Nigerian billionaire Aliko Dangote, is listing 4.1 billion shares. According to Qatar Tribune Business, Dangote described the IPO as "for the people," aiming to give all Nigerians a chance to own a share.

The minimum investment is 5,250 naira ($4) for a 10-share bundle. Dangote retains 87 percent ownership of the refinery, Africa's largest. The IPO launch resulted in heavy traffic on some digital investment platforms, with at least two knocked offline briefly, as reported by Qatar Tribune Business.

Trading is expected to start in November. The Punch reported that the public offer of Dangote Petroleum Refinery and Petrochemicals FZE opened on September 14, 2026, offering 4.1 billion ordinary shares at ₦525. The value of the IPO is ₦2.15 trillion, according to Punch Nigeria.

Brief written by urgent.news from Punch Nigeria, Qatar Tribune Business, France 24, France 24 Business, Punch — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.