Dangote refinery set to open IPO September 14

The Dangote Petroleum Refinery and Petrochemicals has signed the documents required for its proposed initial public offering (IPO), ahead of the planned opening of the offer on September 14, 2026.

The documents were signed on Monday during a preliminary signing ceremony attended by the refinery’s advisers and other parties involved in the proposed share offering.

Speaking at the event, Chuka Eseka, Group Managing Director and Chief Executive Officer of Vetiva Capital Management Limited, said the refinery is expected to list its shares on the Nigerian Exchange in November 2026.

The IPO is expected to pave the way for members of the public and investors to acquire shares in the Dangote refinery.

“Everything has been particularly tailored so that the issuer can come to the market, meet all the disclosure requirements of the Nigerian capital markets, and at the same time, have the opportunity to express the strength,” he said.

“For example, the dollar-denominated company dividends are going to be paid in dollars, and many other interfaces that the regulator worked with us.”

Presenting the details of the IPO, Olutade Olaegbe, managing director, investment banking, Vetiva Capital Management Limited, said the offer would open on September 14, subject to the approval of the Securities and Exchange Commission (SEC).

He said the offer would run for about a month and close on October 13.

Aliko Dangote, chief executive officer (CEO) of Dangote Group, had said the refinery’s proposed IPO has a minimum subscription requirement of 10 ordinary shares, culminating in N5,250 per unit.

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