The Dangote Petroleum Refinery and Petrochemicals (DPRP) has announced plans for a landmark Initial Public Offering (IPO)valued at approximately ₦2.15 trillion (US$1.6 billion).
The offer aims to attract up to 10 million Nigerian investors through a secure, technology-driven subscription process integrated with the nation’s Bank Verification Number (BVN)system.
Scheduled to open on September 14, 2026, the IPO is set to become one of the largest equity offerings in Nigeria’s capital market.
The transaction includes an overallotment option of up to 30 per cent of the offer size to accommodate expected strong demand. Upon completion and all regulatory approvals, DPRP shares will be listed on the Main Board of Nigerian Exchange Limited (NGX).
Democratising Wealth Creation
Designed to broaden participation in wealth creation and deepen Nigeria’s capital market, the public offer presents millions of Nigerians with a unique opportunity to acquire ownership stakes in one of Africa’s most strategic industrial assets. The BVN-integrated subscription platform will allow investors across the country to participate seamlessly and securely, eliminating traditional barriers to equity investment.
Speaking at the IPO Signing Ceremony, Aliko Dangote, Chairman of DPRP and President of Dangote Industries Limited, described the transaction as a defining moment for the company and the continent:
“Today’s signing ceremony marks another defining milestone in the evolution of DPRP. We set out to build a world-class refinery capable of transforming Nigeria’s energy landscape and strengthening Africa’s energy security. Through this IPO, we are opening ownership of this strategic asset to a broader community of investors and creating an opportunity for Nigerians to participate directly in its future growth and value creation.
This refinery means so much to our continent. From the man working in the Simandou mines, to the woman cultivating the fertile fields of Amhara, to the fisherman in Walvis Bay, and the custodians of our ancient history at the northern edge of Africa, this project represents a shared African achievement. Today is indeed a day of collective pride.”
Expanding Retail Participation
The IPO stands as one of the most significant initiatives to democratise investment opportunities and expand retail participation in Nigeria’s capital market. By leveraging digital financial infrastructure and BVN verification, DPRP aims to make share ownership accessible to both first-time investors and experienced market participants nationwide.
Dangote emphasised that the transaction reflects the company’s commitment to inclusive prosperity, broad-based ownership, and long-term national economic development:
“This offer presents Nigerians with a unique opportunity to become co-owners of a world-class refinery that is transforming Africa’s energy landscape. By simplifying the subscription process through BVN integration and digital application channels, we are opening the door for millions of citizens to participate in the growth story of this strategic national asset.”
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