Nigerian Bank Offers Customers N30m Personal Loan To Invest in Dangote Refinery IPO
- United Bank for Africa announced personal loans of up to N30 million for customers who want to participate in the Dangote Petroleum Refinery IPO
- The Dangote Refinery IPO is priced at N525 per share, with investors able to buy a minimum of 10 shares per transaction
- Moniepoint also partnered with TeamApt to open IPO subscriptions through POS terminals and its banking apps
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Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
United Bank for Africa (UBA) has announced that customers can access personal loans of up to N30 million to subscribe to the Dangote Petroleum Refinery initial public offering (IPO), positioning itself as a funding option for retail investors looking to participate in the share sale.
The bank communicated the offer directly to customers via email, describing the loan as a solution for investors who want to join the IPO but lack sufficient funds.
Source: Getty Images
The bank told customers:
"Want to invest in the Dangote Refinery IPO but need extra funds? Get up to N30 million with the UBA Personal Loan,"
UBA also described the offering as a chance to own a stake in one of Africa's largest industrial projects and benefit from its growth potential, BusinessDay rports.
Banks and fintechs expand IPO access
UBA's move is part of a broader push by financial institutions to widen participation in the refinery's share sale. Moniepoint Microfinance Bank and financial technology firm TeamApt Ltd. have joined forces to allow customers to subscribe through Moniepoint's Personal and Business Banking apps, as well as through agent locations equipped with POS terminals nationwide.
The list of approved subscription channels for the IPO is extensive.
Banks cleared to accept subscriptions include Access Bank, Ecobank, FCMB, Fidelity Bank, FirstBank, Globus Bank, GTCO, Jaiz Bank, Lotus Bank, Keystone Bank, PremiumTrust Bank, Providus Bank, Stanbic IBTC, Sterling Bank, TAJ Bank, Union Bank, Wema Bank and Zenith Bank.
Approved fintech and investment platforms include Bamboo, Flutterwave, InvestNaija, Ladder, Moniepoint, Paga, Payaza, PiggyVest, Vetiva Invest, we.yan, Afrinvestor, AnchoriaApp, Bancorp TradePal, CS Alpha, Coronation Wealth, First Securities, Advanta, FutureView Invest, InvestNow, Meritrade, i-Invest, Tiddo Invest, Zedcrest Wealth, SabiVest, Cowrywise, MyInvestar, Revve, Paystro, Remita and VBank. MTN MoMo.
Airtel SmartCash and NGX Invest are also approved channels, while Ecobank Transactional and SBG Securities are available for eligible African investors.
Source: Getty Images
Dangote Refinery shares priced at N525
The IPO is priced at N525 per share. Investors can buy a minimum of 10 shares and a maximum of 500 shares per transaction, meaning entry is possible with as little as N5,250.
The offering gives retail investors a route into the 650,000-barrel-per-day Dangote Petroleum Refinery, a significant player in Nigeria's energy landscape.
Financial experts caution that investors borrowing money to buy shares should weigh the cost of loan repayments against the risks that come with equity investment before committing.
Steps to buy shares from September 14 with N5,250
Earlier, Legit.ng reported that the Securities and Exchange Commission has approved the Dangote Petroleum Refinery and Petrochemicals FZE initial public offering, clearing the way for Nigerians and other eligible investors to buy into one of Africa's biggest industrial projects.
The regulator approved the offer of 4.1 billion ordinary shares at N525 each, a transaction that could raise roughly N2.15 trillion if fully subscribed.
The order book is expected to open on September 14, 2026, though investors must rely on the final SEC-approved offer documents for confirmed dates and conditions at N5,250 minimum investment.
Source: Legit.ng
