Dangote Refinery IPO: What to know as N2.15tn share sale opens in September

The historic N2.15 trillion share sale was unveiled at the signing ceremony held at Eko Hotels, Lagos, on September 7, 2026, where it was revealed that the IPO involves 4.1 billion ordinary shares priced at N525 each.

When will the Dangote Refinery IPO open?

The official application is set to open on September 14, 2026. The offer will remain open for 25 days and is scheduled to close on October 9, 2026.

How much do I need to invest?

Everyday investors can participate in the offer with a minimum subscription of 10 ordinary shares. Priced at N525 per share, 10 shares will cost N5,250. Investors who want to buy more shares can subscribe in multiples of 50 shares thereafter. This means an investor can buy 150 shares, 200 shares, 250 shares, and so on.

Why is the IPO significant?

The share sale marks a major milestone for Nigeria’s capital market and the Dangote Group.

With a value of N2.15 trillion, the offer is positioned as Africa’s largest ever public share sale.

The IPO will also allow members of the public to take a stake in the refinery, which began operations in Nigeria’s Lekki area after years of construction and investment. For investors, the offer provides an opportunity to participate in one of the biggest corporate transactions in Nigeria’s capital market. As the September 14 opening date approaches, prospective investors will be watching the offer closely to understand the terms, risks, and potential returns before deciding whether to subscribe.

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