Aliko Dangote, the Chief Executive Officer of Dangote Group, recently announced that investors can participate in the Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE by purchasing a minimum of 10 ordinary shares for N5,250. This announcement took place during a signing ceremony for the refinery’s IPO at Eko Hotel and Suites, Victoria Island, Lagos.
The IPO consists of 4.1 billion ordinary shares, each valued at a nominal price of $0.000013, and is offering shares at N525 each. Dangote aims to raise over N2 trillion through this offering, which he described as relatively modest. The funds generated from the IPO are intended to finance the refinery’s expansion and to create shareholder opportunities for a broad spectrum of Nigerians.
Emphasizing inclusivity, Dangote stated that the IPO is designed to enable not only established stakeholders but also everyday Nigerians—like drivers, cooks, and managers—to invest and own a stake in the refinery. He articulated the importance of this investment as a means for subscribers to build future savings through share ownership. The offering is thus being marketed as “the IPO for the people,” aiming to enhance public participation in one of Nigeria’s major industrial assets, making it accessible to a wider audience.
