Dangote Refinery IPO: Nigerians Can Buy Shares With Just N5,250
- Aliko Dangote said the proposed Dangote Refinery IPO will have a minimum subscription of 10 shares, costing N5,250
- The IPO will offer 4.1 billion shares at N525 each and is expected to raise slightly above N2 trillion for refinery expansion
- Dangote described the offering as an “IPO for the people” designed to allow ordinary Nigerians to own shares and build future savings
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Legit.ng journalist Victor Enengedi has over a decade's experience covering energy, MSMEs, technology, banking and the economy.
Aliko Dangote has revealed that the minimum investment required to participate in the Dangote Petroleum Refinery and Petrochemicals FZE initial public offering (IPO) is just 10 ordinary shares, amounting to N5,250.
The Dangote Group chief executive made the disclosure on Monday, September 7, 2026, during a signing ceremony held in Lagos, where he outlined the full structure of the proposed offering, TheCable reported.
Source: Facebook
The IPO comprises 4.1 billion ordinary shares, each carrying a nominal value of $0.000013, priced at N525 per share. Through the offering, the refinery is targeting total proceeds of slightly above N2 trillion.
Dangote IPO designed to reach everyday Nigerians
Dangote said the funds raised would go towards expanding the refinery's operations, but the intent behind the offer's structure goes beyond capital alone.
"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," he said.
He added that the low entry point was deliberate, intended to bring ordinary workers into ownership of the business. He specifically mentioned drivers, cooks, domestic staff, and managers as among the groups the offer was designed to accommodate.
Dangote said the investment was also meant to serve as a long-term savings vehicle for subscribers, giving them a stake in one of Africa's largest refinery assets.
He described the offering as "the IPO for the people."
The highly anticipated initial public offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE (DPRP) is scheduled to open for public subscription next Monday, September 14, 2026.
The offer is expected to rank among the biggest and most notable transactions in Nigeria’s capital market.
The development follows the Securities and Exchange Commission (SEC), Nigeria’s top capital market regulator, approving a N2.15 trillion IPO by DPRP.
Under the approved offer, DPRP will issue 4.1 billion ordinary shares at N525 each, putting the initial value of the IPO at about N2.15 trillion. The SEC also gave approval for the refinery’s existing 120.13 billion ordinary shares.
Source: UGC
Dangote refinery petrol price lower than imported
Meanwhile, Legit.ng earlier reported that the Dangote Refinery petrol is now selling way cheaper than imported petrol, despite the Nigerian Midstream and Downstream Petroleum Authority issuing more import licences.
Current data from major importers show that imported petrol is almost N50 per litre higher than Dangote Refinery's N265 price.
The development comes as depot operators have maintained a steady price, yet still higher than the rates offered by the mega refinery.
Source: Legit.ng
