Susan Abayomi
Dangote Petroleum Refinery and Petrochemicals has reaffirmed its commitment to expanding public participation in its initial public offering (IPO), with investors applying for ₦50,000 and below to receive priority consideration in the share allocation process.
The President of Dangote Group, Aliko Dangote, made this known during the final leg of the refinery’s nationwide IPO roadshow in Port Harcourt, Rivers State, where investors, business leaders and financial market experts gathered to discuss the public offering and its economic implications.
Dangote said the initiative was designed to give ordinary Nigerians a greater opportunity to participate in the ownership of one of Africa’s major industrial investments.
He explained that the offering was intended not only to raise capital but also to broaden share ownership and encourage more Nigerians to participate in the country’s capital market.
According to him, the refinery has attracted investments from international and African investors, while the public offer provides an opportunity for Nigerians to acquire a stake in the business.
Dangote also encouraged prospective investors to consider the long-term implications of participating in the offer, highlighting the potential role of wider share ownership in promoting savings, investment and financial inclusion.
The roadshow featured presentations from economists and market analysts on the refinery’s contribution to economic diversification, industrial development and employment generation.
Economist Bismarck Rewane highlighted the economic potential of the South-South region, stressing the importance of converting its resources into sustainable prosperity, infrastructure development and improved living standards.
Similarly, economist and Chief Executive Officer of the Centre for the Promotion of Private Enterprise, Dr Muda Yusuf, discussed the refinery’s potential impact on energy security, domestic value addition, capital formation and employment.
Yusuf noted that the refinery’s activities could stimulate growth across several sectors, including petrochemicals, packaging, manufacturing and logistics. He also emphasised the importance of policy consistency, regulatory stability and a predictable business environment in sustaining investor confidence.
Business leader and legal practitioner Paul Usoro expressed satisfaction with the participation of investors from the South-South region, underscoring the importance of ensuring that people across the country have access to investment opportunities.
The refinery’s public offer comprises 4.1 billion ordinary shares priced at ₦525 each, with a minimum subscription of 10 shares costing ₦5,250. If fully subscribed, the offer is expected to raise approximately ₦2.15 trillion.
Initially scheduled to close on October 13, 2026, the offer period has been extended to October 27 following approval from the Securities and Exchange Commission. The extension is intended to provide more time for investors across Africa and other international markets to participate.
The offering is also targeting broader retail participation, with the Nigerian Exchange Group indicating that the ambition includes attracting up to 10 million investors.
The refinery’s public offer represents a significant development in Nigeria’s capital market, as the company seeks to widen ownership of its 700,000-barrel-per-day facility while raising funds to support its expansion plans.
Prospective investors have been advised to review the offer prospectus and understand the associated risks before making investment decisions, as share ownership does not guarantee profits and market values can fluctuate.
The extended offer period is expected to provide additional opportunities for eligible investors to participate in the transaction, while the emphasis on smaller applications highlights the broader objective of making ownership more accessible to Nigerians.
