How to buy Dangote Refinery shares as IPO opens September 14





By Abdullahi Musa 


The Dangote Petroleum Refinery and Petrochemicals FZE will open its initial public offering to investors on September 14, 2026, with interested Nigerians able to subscribe for the shares entirely online.


The ₦2.15tn offer, described as Nigeria’s largest-ever public share sale, involves 4.1 billion ordinary shares at an indicative price of ₦525 per share.


The offer will close on October 13, 2026, giving investors four weeks to participate.


According to the Managing Director of Investment Banking at Chapel Hill Denham, Lanre Buluro, an interested investor needs a Bank Verification Number, a bank account and a mobile phone or laptop to subscribe.


He said the process could be completed within two to three minutes, with a minimum subscription of 10 shares, costing ₦5,250 at the indicative offer price.


Buluro said the transaction was the first of its kind to be conducted entirely digitally.


How to subscribe


Investors can subscribe through platforms including Moniepoint, MTN MoMo, Airtel, Payaza, PiggyVest, Paga, Bamboo and Chapel Hill Denham’s Invest Naija platform.


Buluro explained that investors do not necessarily need an existing Central Securities Clearing System account before subscribing.


According to him, a CSCS account would be created for new investors within minutes after their BVN, bank account and other details had been verified.


He said a stockbroker was behind each of the participating platforms and would subsequently contact investors to provide their CSCS and Clearing House Number details.


The shares allotted to successful investors would then be domiciled in their CSCS accounts.


Buluro, however, advised prospective investors to seek guidance from financial advisers and carefully study the offer prospectus before committing funds.


He explained that after the offer closes, the advisers and the Securities and Exchange Commission would determine the final allotment based on the level of subscriptions received.


The offer also has an oversubscription provision. Buluro said the company could increase the number of shares offered by about 30 per cent if demand exceeds the initial 4.1 billion shares.


If the additional allocation is fully utilised, the total number of shares issued could rise to approximately 5.3 billion.


The IPO is expected to give Nigerians an opportunity to acquire a stake in the Dangote Refinery, with Dangote Group President, Aliko Dangote, previously saying the offer was designed to enable ordinary Nigerians, including workers and small-income earners, to become shareholders in the refinery.

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