LAGOS, Nigeria – The President and Chief Executive Officer of the Dangote Group, Alhaji Aliko Dangote, has announced that the forthcoming Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE will feature a minimum entry subscription of just 10 ordinary shares valued at ₦5,250, corporate chieftains confirmed at a signing ceremony in Lagos on Monday, September 7, 2026.
The landmark capital market transaction represents one of the largest corporate equity offerings in Nigerian financial history, aimed at democratizing retail participation in Africa’s largest single-train petroleum processing complex.
Okay News reports that the offering, which has secured statutory clearance from the Securities and Exchange Commission (SEC), comprises 4.1 billion ordinary shares with a nominal par value of $0.000013 each, offered to the public at an issue price of ₦525 per share.
Addressing institutional financiers, commercial bank executives, and market operators gathered at Eko Hotel and Suites in Victoria Island, Dangote disclosed that the public float is structured to raise slightly above ₦2 trillion (approximately $1.6 billion) in fresh equity capital.
“In this IPO, we intend to raise just a bit more than N2 trillion, which I’m sure is too small, at an offer price of N525 naira, with a minimum subscription of only 10 shares to fund our expansion of the refinery,” Dangote stated during the ceremony.
The business mogul explained that the decision to peg the minimum entry threshold at 10 shares was deliberate, designed to ensure that low-income earners, informal sector operators, and household workers can participate alongside institutional investors and accumulate long-term assets.
“The fund is not only intended to finance the expansion of the refinery but also to ensure that the majority of our drivers, our cooks, our servants, our managers, and everybody would have an opportunity to own a stake in the offer,” Dangote emphasized.
Characterizing the listing as “the IPO for the people,” the billionaire industrialist noted that the transaction provides a vehicle for everyday citizens to build future savings and directly participate in the commercial returns generated by domestic energy refining.
The proceeds from the capital raise will support the next developmental phase of the 650,000-barrel-per-day facility located in the Lekki Free Zone, which commenced domestic fuel distribution earlier this year and is pursuing capacity expansion to meet regional refined petroleum consumption.
Market regulators confirmed that the order book for the offering is scheduled to open for public subscription on Monday, September 14, 2026, marking a significant milestone for liquidity and retail depth on the Nigerian Exchange.
