The Dangote Petroleum Refinery is launching Africa’s largest public offering, raising ₦2.15 trillion ($1.63B) by selling 4.1 billion shares at ₦525 ($0.40) each on the NGX. Entry starts at ₦5,250 (~$4.00) for 10 shares, opening ownership to retail buyers across Nigeria, the diaspora, and Africa.
Backing the share sale is a major financial turnaround, with $13.91B in revenue and $1.82B in H1 2026 net profit driving a $14.3B expansion program to reach 1.4 million barrels per day by 2029.
A key differentiator for shareholders is the option to receive dividend payouts in either US dollars or naira, leveraged directly by the refinery's foreign-currency export revenues.
The public subscription window officially opens on September 14, 2026 and closes on October 13, 2026, with secondary trading on the Nigerian Exchange set to begin in late November 2026.
Investors require a CSCS account and can subscribe via NGX Invest, partner banks (Access, GTCO, Zenith, UBA, FirstBank), or approved fintech apps like Bamboo, PiggyVest, and Moniepoint.
Allotted shares will be credited electronically to CSCS accounts post-allotment, and applicants are cautioned to use strictly verified official channels to protect their personal security details.