Keystone Bank has been appointed one of the accredited financial institutions through which qualifying investors can subscribe for shares in the Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE, one of the most significant industrial investments on the African continent.
The appointment enables the Bank to serve as an authorised gateway to the offer, giving Nigerians and eligible international investors the opportunity to become part-owners of the landmark enterprise. Under the terms of the offer, 4.1 billion ordinary shares are available at N525 per share. The minimum subscription is 10 shares, valued at N5,250, with investors able to apply for additional shares in line with the conditions set out in the offer documents.
The subscription window opened on Monday, 14 September 2026 and is scheduled to close on 13 October 2026, subject to the provisions of the offer documentation. Keystone Bank is encouraging interested investors including its non customers and existing customers, to use its approved channels to take part in the offer.
Speaking on the appointment, Nnenna Anyim Okoro, Executive Director, Corporate Bank and South, Keystone Bank noted that:
“The Dangote Refinery Offer is more than an investment opportunity; it is an invitation for Nigerians to own a stake in an asset that is poised to contribute significantly to the nation’s industrial and economic future. As a Receiving Agent, Keystone Bank is proud to support this historic transaction by providing investors with a seamless, secure, and convenient subscription experience across our digital and physical channels.
We believe that access to wealth-creation opportunities should be simple, inclusive, and available to all. Through this offer, retail and corporate investors alike have the opportunity to participate in a landmark enterprise, and we are committed to making that journey as straightforward as possible”
Turning to how investors can take part in this opportunity, the ED pointed to the Bank’s approved subscription channels as the practical bridge between the public and the offer.
“As always, we encourage investors to undertake appropriate due diligence, carefully review the offer documentation, and make informed decisions consistent with their financial goals. We look forward to enabling wider participation in this significant milestone for Nigeria’s capital market and economic development.”
Investors are advised to ensure that their personal and banking details including their Bank Verification Number (BVN) are accurate and up to date before submitting their applications.
Customers can access the offer through the Bank’s designated channels, subject to the applicable subscription process and terms, via https://www.keystonebankng.com/keystone-bank-dangote-petroleum-refinery-ipo/
The Dangote Refinery IPO is widely regarded as a defining transaction for the Nigerian capital market. Structured to widen ownership of the refinery, the public offer is designed to give retail investors a practical route into the business.
Accordingly, the Bank invites individuals, professionals, entrepreneurs, business owners, institutional investors and other eligible parties interested in the offer to subscribe through Keystone Bank.
Investors are, however, advised to read the Prospectus and other offer documents carefully and to seek appropriate professional advice where necessary before investing.
Keystone Bank also advises investors to subscribe only through approved channels and to remain vigilant against fraudulent investment schemes. The official Dangote Refinery IPO website specifically warns investors never to disclose their PIN, password or OTP, or to pay money into a personal account.
Keystone Bank Limited is a leading Nigerian commercial bank, serving individuals, businesses, and corporate customers through a growing network of over 157 branches nationwide. Licensed by the Central Bank of Nigeria in 2011, the Bank provides retail, commercial and digital banking solutions, with a strong focus on innovation, financial inclusion, and customer-centric services.
