Investor interest in Dangote Petroleum Refinery and Petrochemicals has reportedly surged as the company approaches the final deadline for its public share offer on Tuesday, October 27, 2026.
The refinery confirmed that the offer would close as scheduled, warning prospective investors that no further extension was planned. Interested subscribers have been advised to complete their applications through approved channels before the deadline.
The growing demand comes amid the release of the company’s nine-month financial results, which showed significant growth in revenue and profitability.
For the nine months ended September 30, 2026, Dangote Refinery reported revenue of $22.5 billion and a net profit of $4.73 billion, marking a substantial improvement from the loss recorded during the corresponding period last year.
Revenue increased by 144 per cent year-on-year, while earnings before interest, taxes, depreciation and amortisation rose to $5.5 billion. The company attributed its improved performance to higher refining volumes, better operational reliability and stronger refining margins.
The refinery also reported a turnaround in its financial position, moving from net debt to a net cash position during the period, strengthening its balance sheet and cash-generation capacity.
The initial public offering comprises 4.1 billion ordinary shares priced at ₦525 each, with the potential to raise approximately ₦2.15 trillion. The minimum subscription is 10 shares, costing ₦5,250.
The share offer is intended to broaden ownership of the refinery by allowing retail and institutional investors to acquire stakes in one of Africa’s largest industrial projects.
According to the company, subscriptions have come from investors in Nigeria, other African countries and international markets, reflecting growing interest in the refinery’s financial performance and long-term expansion plans.
The offering has also attracted attention because of the refinery’s strategic importance to Africa’s energy security, regional trade, industrial development and efforts to reduce dependence on imported petroleum products.
Prospective investors who wish to participate have been urged to complete their applications through their stockbrokers and other approved distribution channels before the offer closes.
However, as with other equity investments, prospective shareholders should review the offer prospectus, understand the associated risks and avoid assuming that strong financial results guarantee future returns.
