Dangote Refinery has begun its Initial Public Offering (IPO) on the Nigerian Exchange (NGX), with a valuation of N2.15 trillion. The offering, which opened on Monday, September 14, 2026, includes 4.1 billion new ordinary shares priced at N525 each. This IPO is expected to be one of the largest in Africa’s history, reflecting the growing confidence in Nigeria’s financial markets.
The IPO marks a significant step in the company’s strategy to expand its operations and diversify its funding sources. Dangote Petroleum Refinery & Petrochemicals FZE announced the start of the offering at a ceremony on the NGX trading floor in Lagos. The event was attended by key stakeholders, including government officials and financial experts.
The Nigerian Exchange has seen increased activity as the IPO attracted considerable attention. The listing is seen as a milestone for Nigeria’s economic development and the evolution of its capital markets. Investors are optimistic about the potential for growth and returns from the offering.
The IPO is part of a broader effort to modernize Nigeria’s energy sector and promote private sector participation in infrastructure projects. The success of the offering could set a new benchmark for future listings in the region.
