Dangote Petroleum Refinery is offering shares to retail investors in Nigeria and other African markets as it seeks to raise ₦2.15 trillion to partly finance a $14.3 billion expansion programme.
According to the offer published on September 7, 2026, the company will sell 4.1 billion ordinary shares at ₦525 each. The minimum subscription is 10 shares, allowing investors to participate with ₦5,250.
The offer will open on September 14 and close on October 13, 2026. Nigerian retail investors will apply through a designated electronic platform, while eligible investors elsewhere in Africa will use an African distribution channel.
After estimated expenses of ₦41.49 billion, the refinery expects to retain about ₦2.11 trillion for expansion. The project, scheduled for completion in 2029, is expected to double refining capacity from approximately 700,000 barrels per day to 1.4 million barrels.
The planned listing values the refinery at an indicative ₦65.22 trillion and is intended to raise long-term capital while broadening public ownership of the company.