Dangote Refinery IPO: How to Buy Shares and who can invest
The Dangote Refinery and Petrochemicals Company has launched Africa’s largest Initial Public Offering, opening the door for Nigerians and global investors to own shares in the world’s largest single-train refinery.
The company is offering 4.1 billion ordinary shares at ₦525 per share, with an option to increase to 5.6 billion shares. The IPO is targeting to raise between $1.6 billion and $2.1 billion to fund expansion of refining, petrochemicals and logistics operations
Speaking at the launch, Aliko Dangote said:
“This is about giving Nigerians ownership in an asset that will secure our energy future, create jobs, and drive prosperity.
Who Can Invest?
The offer is open to both retail and institutional investors:
- Nigerian Individuals: Must be 18 years and above with a valid Bank Verification Number (BVN) and CSCS account
- Nigerian Institutions Pension Fund Administrators, Insurance Companies, Asset Managers, and Corporate Bodies registered with the Corporate Affairs Commission (CAC)
- Diaspora Nigerians: Must have a Nigerian bank account, BVN, and CSCS account
- Foreign Investors: Qualified Foreign Institutional Investors (QFIIs) through SEC-licensed brokers and custodians
- Retail Investors: A dedicated portion of the offer has been reserved to ensure mass participation
Offer Price: ₦525 per share
- Total Shares on Offer: 4.1 billion, with a greenshoe option of up to 5.6 billion shares
- Target Raise: $1.6 billion – $2.1 billion
- Minimum Subscription: Expected to start from 100 units for retail investors. Final details will be in the prospectus
- Use of Proceeds: Expansion of refining capacity, petrochemical plants, and logistics infrastructure across West Africa
- Current Capacity: The refinery currently processes 700,000 barrels of crude oil per day
How to Buy Dangote Refinery Shares:
1: Prepare Your Documents
Have your BVN, valid National ID or International Passport, passport photograph, and active bank account ready.
2: Open or Confirm Your CSCS Account
Visit any SEC-registered stockbroker or participating bank. The CSCS account is where your shares will be deposited after allotment. If you already trade stocks in Nigeria, your existing CSCS account can be used.
3: Submit Your Application
Once the offer opens, applications will be accepted through:
- Licensed Stockbrokers nationwide
- Participating Banks at designated branches
- NGX e-IPO Portal and other approved digital platforms
- Online IPO Portals to be announced by the issuing houses
4: Allotment and Trading
After the offer closes, shares will be allotted in line with SEC guidelines. Refunds for unsuccessful applications will be processed within 5 working days.
Allotted shares will be credited to your CSCS account and listed for trading on the Nigerian Exchange Limited (NGX).
Important Dates and Official Channels
The Securities and Exchange Commission (SEC) and the Nigerian Exchange Limited (NGX) will publish the official prospectus and subscription timetable this week. The offer is expected to remain open for 2 to 3 weeks.
Why This IPO Matters
- Energy Security: The refinery is already cutting Nigeria’s fuel import bill and saving foreign exchange
- Public Ownership: It is the first opportunity for Nigerians to own part of a strategic national asset
- Capital Market Growth: The listing is expected to deepen the Nigerian market and attract foreign portfolio investment
