LAGOS — All is set at the Eko Hotel and Suites in Victoria Island, Lagos, on Monday, September 7, 2026, for the official completion board meeting and signing ceremony of the Dangote Petroleum Refinery and Petrochemicals FZE Initial Public Offering (IPO)—marking what financial analysts describe as the largest capital market transaction in Nigerian history.
The landmark ceremony, presided over by President and Chief Executive of Dangote Industries Limited, Aliko Dangote, alongside issuing houses led by Vetiva Advisory Services Limited and regulatory officials, follows formal approval from the Securities and Exchange Commission (SEC). Under the SEC-cleared offer framework, the refinery is offering 4.1 billion ordinary shares to the public at an issue price of ₦525.00 per share, seeking to raise approximately ₦2.15 trillion ($1.6 billion) in fresh equity capital. The SEC has concurrently registered the company’s existing 120.13 billion ordinary shares.
The public order book is scheduled to open officially for subscription on Monday, September 14, 2026. At the offer price of ₦525 per share, the market valuation of the integrated 700,000-barrel-per-day facility stands at approximately $40 billion to $47 billion. Financial strategists project that a full subscription of the float will single-handedly boost total market capitalisation on the Nigerian Exchange (NGX) by an estimated 30 to 40 percent. Proceeds from the offer are slated to fund the facility’s phase-two expansion target of 1.4 million barrels per day, positioning the Lekki-based complex as the largest operating crude refinery globally.
