Dangote Refinery IPO has officially kicked off on NGX.
NewsOnline Nigeria reports that the Initial Public Offering (IPO) of Dangote Refinery and Petrochemicals FZE officially commenced on the Nigerian Exchange Limited (NGX) on Monday, September 14, 2026, marking a major milestone for Nigeria’s capital market.
President of Dangote Group, Aliko Dangote, sounded the closing gong at the NGX as the 700,000-barrel-per-day Dangote Refinery became the first refinery to be offered on the Nigerian stock market in the Exchange’s 66-year history.
Speaking at the event, Dangote highlighted the refinery’s growing role in the international aviation fuel market, stating that the facility has become the largest supplier of jet fuel to Europe.
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“Dangote Refinery is the largest supplier of jet fuel to Europe. Europe must really thank Nigeria under the leadership of President Tinubu for keeping their planes flying, I’m very serious,” Dangote said.
He added that the refinery had sold out its jet fuel production from August and September, noting that the company currently has no additional volumes available for export because supplies are being reserved for the Nigerian market.
“Right from August, September, we sold out in terms of jet fuel, we have nothing to sell anymore, we only reserve that for Nigeria,” he said.
The public offer is valued at approximately ₦2.15 trillion, equivalent to about $1.6 billion.
The IPO comprises 4.1 billion ordinary shares, with each share carrying a nominal value of $0.000013 and offered to investors at ₦525 per share.
The offering is targeting approximately 10 million Nigerian investors, making it one of the most significant attempts to deepen retail participation in Nigeria’s capital market.
The commencement of the offer has already generated significant interest among prospective investors, with investment platforms experiencing increased traffic from Nigerians seeking to participate in the landmark transaction.
The listing and public offer represent a major development for the Nigerian capital market, as investors are presented with an opportunity to acquire an interest in one of the country’s most prominent industrial projects.
The Dangote Refinery, located in Lekki, Lagos, has a stated refining capacity of 700,000 barrels per day and has increasingly positioned Nigeria as a potential major player in the regional and global petroleum products market.
