Dangote Refinery Launches Africa’s Biggest Share Sale, Offers 4.1 Billion Shares at N525 Each

By: (I.T): Ileruwa Roseline

Africa’s richest man, Aliko Dangote, has launched the biggest share sale in the history of the African continent through his Dangote Petroleum Refinery.

The Initial Public Offer, which opened on the Nigerian Exchange in Lagos on Sunday, September 13, 2026, offers 4.1 billion ordinary shares to the public at N525 per share, with a minimum subscription of 10 shares.

The offer, which will close on October 13, 2026, is expected to raise N2.15 trillion, approximately 1.6 billion dollars, if fully subscribed.

According to information from the refinery management, proceeds from the share sale will be used to expand the refinery’s production capacity from the current 700,000 barrels per day to 1.4 million barrels per day, making it the largest single-train refinery in the world by capacity.

Stakeholders in the deal include Aliko Dangote as Chairman of Dangote Petroleum Refinery, the Nigerian Exchange Group, the Securities and Exchange Commission, institutional investors, retail investors, and issuing houses handling the transaction.

Market analysts have described the IPO as a landmark moment for Nigeria’s capital market, noting that it will deepen the market and give millions of Nigerians an opportunity to own a stake in the $20 billion refinery located in the Lekki Free Trade Zone, Lagos.

The refinery, which began operations last year, has already been credited with reducing Nigeria’s dependence on imported petroleum products and stabilizing fuel supply across the country.

Members of the public have been advised to contact their stockbrokers or visit designated bank branches to subscribe before the closing date.