The Dangote Petroleum Refinery and Petrochemicals FZE is set to hold the signing ceremony for its Initial Public Offering (IPO) in Lagos on Monday, September 7, 2026, marking a major step towards the planned public offering of shares in the refinery.
The ceremony is scheduled to take place at the Eko Hotel and Suites in Victoria Island, Lagos, following approval from the Securities and Exchange Commission (SEC) for the IPO.
The approved offer comprises 4.1 billion ordinary shares priced at ₦525 per share. If fully subscribed, the offering could raise about ₦2.15 trillion, making it one of the largest capital-market transactions in Africa.
The IPO is expected to give investors an opportunity to acquire shares in the refinery, which has a refining capacity of 650,000 barrels of crude oil per day.
The refinery, owned by the Dangote Group and led by billionaire businessman Aliko Dangote, is also pursuing plans to expand its capacity to about 1.4 million barrels per day.
Proceeds from the share sale are expected to support the company’s expansion plans as it seeks to increase production capacity and strengthen its position in the African and international energy markets.
The formal signing ceremony will involve the refinery’s management, financial advisers and other stakeholders involved in the transaction.
The IPO is expected to attract significant interest from investors, given the size of the refinery and its importance to Nigeria’s petroleum sector. The order book is expected to open later in September, subject to the final timetable and offer documentation.
