Korede Abdullah 
LAGOS, Nigeria – The Dangote Petroleum Refinery and Petrochemicals FZE has opened a public share offer worth about ₦2.15 trillion as it seeks to raise fresh capital to fund expansion and increase its refining capacity.
The offer, which opened on Monday, September 14, 2026, comprises 4.1 billion ordinary shares priced at ₦525 each, equivalent to approximately $1.6 billion.
The offer will close on October 13, 2026.
The transaction allows investors to subscribe for a minimum of 10 shares at a cost of ₦5,250.
The offer represents about 3.3 per cent of the refinery and implies a valuation of approximately ₦63 trillion, or $47.6 billion.
The company said proceeds from the offer would support its expansion and growth plans as it seeks to increase refining capacity from its current 700,000 barrels per day to about 1.4 million barrels per day.
The public offer is being promoted as a “People’s IPO”, with retail and institutional investors able to participate through approved stockbrokers, banks, fintech investment platforms and other distribution channels.
However, the ₦525 offer price does not guarantee future returns.
The listing is expected to take place after completion of the offer process, with trading anticipated around late November 2026.
About the Author
Hope Ajayi 
Oluwatobi Adu 
