Dangote Petroleum Refinery has launched an Initial Public Offering (IPO) valued at approximately N2.15 trillion, offering members of the public an opportunity to acquire shares in the company and participate in its future expansion.
The Chief Executive Officer of Dangote Group, Aliko Dangote, said the offering would allow Nigerians and other Africans to invest in the 700,000-barrel-per-day refinery located within the Lekki Free Zone in Lagos.
The IPO comprises approximately 4.1 billion ordinary shares, priced at N525 per share. The minimum subscription is 10 shares, requiring an investment of N5,250.
“This IPO is for the public. There is no discrimination regarding who can own the shares,” Dangote said.
According to him, the offering represents the refinery’s first major public share sale since its commissioning in 2023 and is intended to broaden ownership of the facility while providing additional capital for expansion.
Dangote described the offering as a landmark transaction for Nigeria and Africa, saying it would give a wider number of investors an opportunity to participate in the growth of one of the continent’s largest refining projects.
The IPO is expected to increase the refinery’s shareholder base while supporting its long-term expansion plans and strengthening public participation in the company.
