The Dangote Petroleum Refinery and Petrochemicals (DPRP) has unveiled plans for a landmark Initial Public Offering (IPO) valued at approximately ₦2.15 trillion (US$1.6 billion), with a targeted participation of up to 10 million Nigerian investors through a secure and technology-driven subscription process integrated with the nation’s Bank Verification Number (BVN) system.
The offer, scheduled to open on September 14, 2026, is expected to be one of the largest equity offerings in Nigeria’s capital market history. To accommodate strong investor interest, the transaction includes an overallotment 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, the public offer provides millions of Nigerians with a unique opportunity to acquire ownership stakes in one of Africa’s most strategic industrial assets. The BVN-integrated subscription platform will enable investors across the country to participate seamlessly, securely and transparently, removing many of the traditional barriers to equity investment.
Speaking at the IPO Signing Ceremony, Aliko Dangote, GCON, Chairman of the Board of Directors of DPRP and Founder and President of Dangote Industries Limited, described the transaction as a defining moment for the company and the continent.
“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 added: “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.”
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 said the transaction reflects the company’s commitment to inclusive prosperity, broad-based ownership and long-term national economic development.
“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.”
L-R: Group Vice President, Oil & Gas and Fertiliser, Dangote Industries Limited, Devakumar Edwin; Group Executive Director, Commercial Operations, Cement and Foods Businesses Dangote Industries Limited, Mariya Aliko-Dangote; Chairman, Heirs Holdings, Tony Elumelu; President/CE, Dangote Industries Limited, Aliko Dangote; Founder/Former Chairman, Zenith Bank Plc, Jim Ovia; Former Minister of Industry, Trade and Investment, Otunba Niyi Adebayo; Founding partner, Banwo & Ighodalo, Asue Ighodalo; Group Executive Director, Commercial Operations, Oil & Gas, Fertiliser and WAEP, Fatima Aliko-Dangote; Group Vice President, Business Units, Dangote Industries Limited, Olakunle Alake, at the signing ceremony of Dangote Petroleum Refinery & Petrochemicals FZE Initial Public Offering (IPO) in Lagos on Monday, September 7, 2026.L-R: Chairman/Chief Executive Officer, Buraq Capital Limited, Alhaji Mohammed Bintube; Chief Executive Officer, Chapel Hill Denham, Bolaji Balogun; Group Executive Director, Commercial Operations, Cement and Foods Businesses Dangote Industries Limited, Mariya Aliko-Dangote; Director, Dangote Petroleun Refinery & Petrochemicals, Adedapo Adeolu Segun; Group Vice President, Oil & Gas and Fertiliser, Dangote Industries Limited, Devakumar Edwin; Company Secretary, Dangote Petroleun Refinery & Petrochemicals, Christian Meseko; President/CE, Dangote Industries Limited, Aliko Dangote; CEO, Dangote Petroleun Refinery & Petrochemicals, David Bird; Group Managing Director / Chief Executive Officer, Vetiva Capital Management Limited, Chuka Eseka; Group Vice President, Business Units, Dangote Industries Limited, Olakunle Alake; Group Executive Director, Commercial Operations, Oil & Gas, Fertiliser and WAEP, Fatima Aliko-Dangote; CFO, Dangote Petroleun Refinery & Petrochemicals, Bruce Tanner; Chief Executive, Stanbic IBTC Capital Limited, Oladele Sotubo; Managing Director, First Capital Limited; Ukandu E. Ukandu; Founding partner, Banwo & Ighodalo, Asue Ighodalo; at the signing ceremony of Dangote Petroleum Refinery & Petrochemicals FZE Initial Public Offering (IPO) in Lagos on Monday, September 7, 2026.L-R: Group Vice President, Oil & Gas and Fertiliser, Dangote Industries Limited, Devakumar Edwin; Company Secretary, Dangote Petroleun Refinery & Petrochemicals, Christian Meseko; President/CE, Dangote Industries Limited, Aliko Dangote; Group Managing Director/Chief Executive Officer, Vetiva Capital Management Limited, Chuka Eseka; CEO, Dangote Petroleun Refinery & Petrochemicals, David Bird; at the signing ceremony of Dangote Petroleum Refinery & Petrochemicals FZE Initial Public Offering (IPO) in Lagos on Monday, September 7, 2026.L-R: Group Executive Director, Commercial Operations, Cement and Foods Businesses Dangote Industries Limited, Mariya Aliko-Dangote; Director, Dangote Petroleun Refinery & Petrochemicals, Adedapo Adeolu Segun; Group Vice President, Oil & Gas and Fertiliser, Dangote Industries Limited, Devakumar Edwin; Company Secretary, Dangote Petroleun Refinery & Petrochemicals, Christian Meseko; President/CE, Dangote Industries Limited, Aliko Dangote; CEO, Dangote Petroleun Refinery & Petrochemicals, David Bird; Group Managing Director/Chief Executive Officer, Vetiva Capital Management Limited, Chuka Eseka; Group Vice President, Business Units, Dangote Industries Limited, Olakunle Alake; Group Executive Director, Commercial Operations, Oil & Gas, Fertiliser and WAEP, Fatima Aliko-Dangote; CFO, Dangote Petroleun Refinery & Petrochemicals, Bruce Tanner; at the signing ceremony of Dangote Petroleum Refinery & Petrochemicals FZE Initial Public Offering (IPO) in Lagos on Monday, September 7, 2026.
