The Dangote Petroleum Refinery and Petrochemicals (DPRP) has announced plans to raise approximately ₦2.15 trillion ($1.6 billion) through an Initial Public Offering (IPO), in a landmark transaction that could bring up to 10 million Nigerians into direct ownership of the massive refinery.
The public offer is scheduled to open on September 14, 2026, and will allow Nigerians to subscribe for shares through a technology-driven platform integrated with the country’s Bank Verification Number (BVN) system.
The IPO is expected to rank among the largest equity offerings in the history of Nigeria’s capital market. An overallotment option of up to 30 per cent of the offer size has also been included to accommodate potentially strong investor demand.
Subject to the completion of the offer and all required regulatory approvals, DPRP’s shares will be listed on the Main Board of the Nigerian Exchange Limited (NGX).
The company said the BVN-integrated subscription platform is designed to simplify the process of investing in the refinery, allowing Nigerians across the country to participate securely and transparently without some of the traditional barriers associated with equity investment.
The offering is being positioned as a major step towards broadening retail participation in Nigeria’s capital market and giving millions of citizens an opportunity to become shareholders in one of Africa’s largest industrial assets.
Speaking at the IPO signing ceremony, Aliko Dangote, Chairman of the Board of Directors of DPRP and Founder and President of Dangote Industries Limited, described the offer as a defining milestone in the evolution of the refinery.
Dangote said the refinery was conceived to transform Nigeria’s energy landscape and strengthen Africa’s energy security, adding that the IPO would now extend ownership of the strategic asset to a wider community of investors.
«“Through this IPO, we are opening ownership of this strategic asset to a broader community of investors and creating an opportunity for Nigerians to participate directly in its future growth and value creation,” he said.»
He described the refinery as a symbol of collective African achievement, stressing that its impact extends beyond Nigeria.
Dangote said the transaction also reflects the company’s commitment to inclusive prosperity, broad-based ownership and long-term national economic development.
He added that integrating BVN verification with digital application channels would make it easier for both first-time investors and experienced market participants to acquire shares.
«“This offer presents Nigerians with a unique opportunity to become co-owners of a world-class refinery that is transforming Africa’s energy landscape,” Dangote said.»
The proposed ₦2.15 trillion offering, if successfully completed, is set to significantly expand public participation in the ownership of the Dangote refinery while potentially deepening the country’s equity market and retail investor base.
