The much-anticipated initial public offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE has officially opened, giving Nigerians and other investors an opportunity to own a stake in one of Africa’s biggest industrial projects.
The offer, which commenced on Monday, September 14, 2026, will remain open for 30 days and close on October 13, 2026.
Under the offer, a total of 4.1 billion ordinary shares are being offered to investors at N525 per share. Investors can subscribe for a minimum of 10 shares, which amounts to N5,250, while additional subscriptions must be made in multiples of 10 shares.
FirstBank has announced that its customers can participate in the IPO through several of its digital and physical channels.
According to the bank, investors can subscribe through FirstMobile, FirstOnline, LIT App, PayByLink, FirstDirect for corporate customers, FirstMonie agents and any FirstBank branch nationwide.
FirstBank, which is serving as the receiving bank for the offer, said it had provided multiple channels to make the subscription process convenient and secure for prospective investors.
“FirstBank is committed to connecting our customers with opportunities that support wealth creation and long-term financial growth,” the bank said.
It added that the Dangote Refinery IPO provides retail and institutional investors with an opportunity to participate in the growth of one of Africa’s most significant industrial assets.
The bank said its extensive branch network and digital platforms would help broaden access to the investment opportunity while supporting financial inclusion and wealth creation.
The IPO comes as the Dangote Refinery continues to play an increasingly important role in Nigeria’s downstream petroleum industry, particularly amid efforts to expand domestic refining capacity and reduce the country’s reliance on imported petroleum products.
The shares are proposed to be listed on the Main Board of the Nigerian Exchange Limited (NGX), subject to the successful completion of the offer and fulfilment of applicable regulatory requirements.
For prospective investors, the offer provides an opportunity to gain exposure to the refinery through equity ownership. However, as with any investment in the capital market, investors are expected to consider the potential risks and their financial objectives before subscribing.
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