Dangote Refinery IPO opens September 14 for ₦525 share price targeting ₦2.15 trillion
The Dangote Petroleum Refinery IPO begins Monday, offering 4.1 billion shares to raise approximately ₦2.15 trillion if fully subscribed. Shares are priced at ₦525 each with a listing date of October 13 on the NGX.
Dangote Petroleum Refinery and Petrochemicals FZE launched its initial public offering starting Monday, September 14, 2026, in Lagos. The company offers 4.1 billion ordinary shares at ₦525 per share. Investors interested in participating must submit applications before the offer closes on October 13, 2026. Full subscription of this tranche is projected to raise approximately ₦2.15 trillion for the company.
The offering lists on the Main Board of the Nigerian Exchange (NGX). This transaction involves Dangote Petroleum Refinery and Petrochemicals FZE, which owns the integrated facility in Lagos currently operating at a capacity of 700,000 barrels per day. The complex includes petrochemical production for products like polypropylene.
Management stated plans to expand refining capacity to approximately 1.4 million barrels per day by 2029. Construction for this expansion project started in January 2026.
