The Nigerian Exchange (NGX) in Lagos marked a significant milestone on Monday as the Dangote Petroleum Refinery and Petrochemicals FZE launched its Initial Public Offering (IPO). Aliko Dangote, the President and Chief Executive Officer of Dangote Industries Limited, officially opened the event by ringing the gong on the NGX trading floor.
The IPO offers 4.1 billion ordinary shares priced at ₦525 each, with a minimum subscription of 10 shares, bringing the total initial investment to ₦5,250. This public offering aims to raise approximately ₦2.15 trillion and will remain open until October 13, 2026.
During the opening ceremony, Dangote emphasized that the initiative is not merely about raising funds but about expanding ownership and “democratising wealth creation.” The event drew an impressive crowd, including notable government officials and business leaders, such as Lagos State Governor Babajide Sanwo-Olu and the Ooni of Ife, Oba Adeyeye Ogunwusi.
This IPO presents a unique opportunity for investors to own a stake in Africa’s largest refinery, showcasing a significant step in the continent’s economic landscape.
