LAGOS — Ahead of the official opening of the ₦2.15 trillion Dangote Petroleum Refinery Initial Public Offering (IPO) on Monday, September 14, 2026, President of Dangote Industries Limited, Aliko Dangote, has projected that the refinery’s share price—currently offered at ₦525 per share—could appreciate to ₦10,000 as operational capacity expands.
Speaking in an interview broadcast on Saturday, September 12, 2026, the industrialist explained that the public offer was structured to prioritize retail micro-investors—such as drivers, domestic staff, artisans, and small business owners—over large institutional buyers to foster broad-based wealth distribution across Nigeria.
Dangote noted that an investor committing ₦5 million at the current IPO price could see their portfolio value grow beyond ₦50 million if the stock hits his ₦10,000 valuation milestone, advising retail buyers against panic-selling after allotment. He further disclosed that shareholders will have the option to receive future dividend distributions in either naira or US dollars, providing retail investors with a structural hedge against foreign exchange volatility and currency depreciation.
Key Highlights of the Dangote Refinery IPO
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Offer Structure & Pricing: The public offer comprises 4.1 billion ordinary shares priced at ₦525 per share, targeting a total capital raise of ₦2.15 trillion (approximately $1.63 billion).
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Retail Accessibility: The minimum subscription requirement is set at 10 shares costing ₦5,250, intentionally lowering entry barriers for working-class Nigerians.
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Allotment Priority: Dangote emphasized that small retail applicants requesting allocations of ₦50,000 to ₦100,000 will receive first-tier priority during allotment processing before institutional requests are considered.
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Dual-Currency Dividend Feature: Investors can choose naira or US dollar payouts for annual dividends, aimed at helping parents and guardians protect overseas commitments, such as foreign tuition fees, against exchange-rate shocks.
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Offer Timeline: Subscription channels open nationwide on Monday, September 14, 2026, and close on Tuesday, October 13, 2026, with official listing on the Nigerian Exchange (NGX) anticipated by early December 2026.
