Dangote Petroleum Refinery has opened its ownership to Nigerians and eligible African investors through a public offer priced at N525 per share.
The offer allows investors to acquire a minimum of 10 shares for N5,250, giving individuals an opportunity to own a stake in one of Africa’s largest industrial projects.
The public offering involves 4.1 billion ordinary shares and is expected to raise about N2.15 trillion if fully subscribed.
The offer opened on September 14, 2026, and is scheduled to close on October 13, 2026.
According to the company, the funds raised will support the refinery’s expansion plans and strengthen its long-term growth.
The refinery currently has a production capacity of about 700,000 barrels per day, with plans to increase this to approximately 1.4 million barrels per day.
The expansion is expected to require significant investment as the company seeks to increase production and strengthen its position in the African and international petroleum markets.
The share sale also represents a major development for Nigeria’s capital market.
By allowing retail investors to participate with as little as N5,250, the offer lowers the entry point for individuals who want exposure to a major industrial company.
However, investors will still need to consider the risks associated with buying shares, including the company’s future earnings, market conditions and the performance of the petroleum industry.
Dangote is expected to retain a substantial majority ownership of the refinery after the offering, meaning the public sale does not transfer control of the business.
The transaction instead creates a wider shareholder base while providing the company with additional capital for its expansion programme.
The refinery has become increasingly important to Nigeria’s energy sector since beginning operations, with its production helping to reduce the country’s dependence on imported refined petroleum products.
Its growing capacity could also strengthen Nigeria’s position as a supplier of refined petroleum products to other African markets.
The IPO therefore brings together three major areas of Nigeria’s economy: energy, industrial development and capital markets.
For DDM News, the offer could become an important test of retail investor appetite for large-scale Nigerian industrial businesses.
The level of subscription and the refinery’s performance after the listing will determine how significant the transaction becomes for Nigeria’s investment market.
With the offer now open, investors have until October 13 to decide whether to participate based on the company’s prospectus and their individual investment objectives.
