Dangote Refinery IPO is out for ₦5,250

The much awaited
Dangote Refinery IPO has finally come as the official signing ceremony was held at the Eko Convention Centre in Lagos, where Aliko Dangote and other stakeholders officially signed the offer documents.

Below are the key details of the IPO from today’s pronouncements:

📌 4.1 billion shares will be offered
📌 At ₦525 per share
📌 Targeting about ₦2.15 trillion
📌 Minimum subscription: 10 shares = ₦5,250
📌 Application opens: September 14, 2026
📌 Application closes: October 9, 2026
📌 The IPO runs for 25 days
📌 Funds raised will be used to expand the refinery toward 1.4 million barrels per day

But what caught my attention most was Dangote’s description of it as “the IPO for the people.” He also described it as “the biggest IPO ever in the history of Africa.”

He said the company wants drivers, cooks, servants, managers, and ordinary Nigerians to be able to own shares in the refinery.

And with the minimum investment set at just ₦5,250, this is clearly structured to make participation possible for a much wider group of Nigerians, just as I predicted in my post yesterday.

The ceremony also had some of the biggest names in Nigeria’s financial and business space, including Jim Ovia, Tony Elumelu, the SEC leadership, and NGX representatives.