*The Management of Dangote Petroleum Refinery and Petrochemicals unveil plans for a landmark Initial Public Offering, scheduled to open September 14, 2026, and Nigerian investors are required to buy shares, using their Bank Verification Numbers
Alexander Davis | ConsumerConnect
The Dangote Petroleum Refinery and Petrochemicals (DPRP) has unveiled plans for a landmark Initial Public Offering (IPO).
The Dangote Petroleum Refinery’s IPO is valued at approximately ₦2.15 trillion (US$1.6 billion), with a targeted participation of about 10 million Nigerian investors.
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The Management of the oil-refining company also disclosed that participation in the Initial Public Offering would be through a secure and technology-driven subscription process integrated with Nigeria’s Bank Verification Number (BVN) system.
The offer, scheduled to open September 14, 2026, is expected to be one of the largest equity offerings in Nigeria’s capital market history.
The company noted in order to accommodate strong investor interest, the transaction includes an over-allotment option of up to 30 percent of the offer size.
Upon completion of the offering and receipt of all regulatory approvals, the company’s shares will be listed on the Main Board of Nigerian Exchange Limited (NGX).
Designed to broaden participation in wealth creation and deepen Nigeria’s capital market, Dangote Refinery said the public offer provided millions of Nigerians with a unique opportunity to acquire ownership stakes in one of Africa’s most strategic industrial assets.
It also explained the BVN-integrated subscription platform would enable investors across the country to participate “seamlessly, securely and transparently, removing many of the traditional barriers to equity investment in the Capital market.
Speaking at the IPO Signing Ceremony, Alhaji Aliko Dangote, GCON, Chairman of the Board of Directors of DPRP, Founder and President of Dangote Industries Limited (DIL), described the transaction as a defining moment for the company and the continent.
Dangote stated: “Today’s signing ceremony marks another defining milestone in the evolution of DPRP. “We set out to build a world-class refinery capable of transforming Nigeria’s energy landscape and strengthening Africa’s energy security.
“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 also said: “This Refinery means so much to our continent.
“From the man working in the Simandou mines, to the woman cultivating the fertile fields of Amhara, to the fisherman in Walvis Bay, and the custodians of our ancient history at the northern edge of Africa, this project represents a shared African achievement. Today is indeed a day of collective pride.”
According to Dangote, the IPO represents one of the most significant initiatives aimed at democratising investment opportunities and expanding retail participation in Nigeria’s capital market.
By leveraging existing digital financial infrastructure and BVN verification, DPRP seeks to make share ownership accessible to both first-time investors and experienced market participants nationwide.
Dangote further said the transaction reflected the company’s commitment to inclusive prosperity, broad-based ownership and long-term national economic development.
The President/Chief Executive of Dangote Group noted: “This offer presents Nigerians with a unique opportunity to become co-owners of a world-class refinery that is transforming Africa’s energy landscape.
“By simplifying the subscription process through BVN integration and digital application channels, we are opening the door for millions of citizens to participate in the growth story of this strategic national asset.”