The Nigerian capital market is set for a historic milestone as the Dangote Petroleum Refinery officially opens its Initial Public Offering (IPO) to the public. Built to refine 650,000 barrels per day, Africa’s largest private petroleum refinery is offering 4.1 billion ordinary shares at ₦525 per share, seeking to raise ₦2.15 trillion in fresh equity. The public offer officially opens on September 14, 2026 and will run through October 13, 2026.
In a move aimed at democratizing wealth, Group President Aliko Dangote emphasized during the offer sign-off that this share sale is meant for everyday people, from drivers to cooks, market traders, and everyday workers, ensuring everyone gets an opportunity to own a piece of Africa's flagship energy asset. To make this possible, the minimum subscription threshold has been set at just 10 shares, meaning anyone can become a shareholder with as little as ₦5,250.
To eliminate traditional friction, the Dangote Refinery IPO is being sold to retail investors entirely digitally. Gone are the days of printing thick paper applications, standing in long bank queues, or mailing physical forms to stockbrokers. Through , retail investors can complete their subscription end-to-end within minutes straight from their mobile devices.
Please see summary of the offer below:
Please view the full offer prospectus
Multiple Channels, One Application
The Issuer has envisioned a retail offer delivered through digital platforms with a simplified flow that makes it easy for everyone to participate. Multiple application channels are therefore available through Financial Intermediaries (Banks, Fintechs, Receiving Agents, etc.).
However, each applicant may submit only one application. Multiple applications may be rejected.
What Does This Mean Practically?
Bank Verification Number (BVN) is mandatory for the validation of applications. Therefore, across all channels, BVN will serve as the unique identifier for investors.
The use of digital platforms supports additional unit purchases within the offer period. However, investors cannot submit multiple applications through different financial intermediaries, as all additional applications will be treated as subscriptions for additional units and collated under the financial intermediary through which the first purchase was executed.
Here is your complete guide on how the process works and how you can place your order seamless on i-invest.
Pre-Requisites: What You Need Before You Subscribe 1. An Active i-invest Account: Ensure your profile details (BVN, Date of Birth, and Next of Kin) are complete. 2. A CSCS Account Number: All shares on the Nigerian Exchange are credited electronically to a Central Securities Clearing System (CSCS) account. a. If you don’t have one, updating your KYC on i-invest triggers our system to generate a CSCS account for you at zero cost, no broker visits required. 3. A Funded i-invest Wallet: Top up your wallet in advance to cover your intended unit purchase (starting from ₦5,250 for 10 shares up to your target allocation) so you can execute your order instantly when the window opens.
How to Buy Shares on the i-invest App in 5 Simple Steps
Once the subscription window opens, follow this simple process to secure your units: 1. Open the i-invest app and, on the home screen, tap Equities.
2. Select Public Offers.
3. Tap Dangote Refinery Offer.
4. Follow the prompts and fill in your required subscription details (e.g., number of units).
5. Review your information and tap Subscribe now.
Are you IPO-ready? Get your profile verified, fund your wallet, and get ready to secure your stake in history!
