Dangote Refinery Targets 10 Million Nigerian Retail Investors To Buy Shares Using BVN

Dangote Petroleum Refinery and Petrochemicals (DPRP) has unveiled plans for a landmark initial public offering (IPO) worth around 2.15 trillion naira ($1.6 billion).

The public offering includes targeted participation of up to 10 million Nigerian investors through a secure, technology-driven subscription process integrated with the National Bank Verification System (BVN).

The offering, scheduled to open on September 14, 2026, is expected to be one of the largest equity offerings in the history of Nigeria’s capital market. To accommodate strong investor interest, the transaction includes an overallotment option of up to 30% of the offering size.

Once the offering is completed and all regulatory approvals are received, the company’s shares will be listed on the main board of the Nigerian Exchange Limited (NGX).

Designed to broaden participation in wealth creation and strengthen Nigeria’s capital market, the public offering offers millions of Nigerians a unique opportunity to acquire ownership stakes in one of Africa’s most strategic industrial assets.

BVN’s integrated subscription platform will enable investors across the country to participate seamlessly, securely and transparently, removing many of the traditional barriers to equity investing.

Speaking at the IPO signing ceremony, Aliko Dangote, Chairman of the Board of Directors of DPRP, Founder and Chairman of Dangote Industries Limited, described the transaction as a defining moment for the company and the continent.

“Today’s signing ceremony marks another milestone in the evolution of the DPRP. We have set out to build a world-class refinery capable of transforming Nigeria’s energy landscape and strengthening Africa’s energy security.

“Through this IPO, we are opening up ownership of this strategic asset to a broader community of investors and creating an opportunity for Nigerians to directly participate in its future growth and value creation,” he said.

Continuing, he added: “This refinery means so much to our continent. From the man who works in the mines of Simandou, to the woman who farms the fertile fields of Amhara, to the fisherman of Walvis Bay and the custodians of our ancient history at the northern tip of Africa, this project represents a shared African achievement. Today is truly a day of collective pride.”

The IPO represents one of the most significant initiatives aimed at democratizing investment opportunities and expanding retail participation in Nigeria’s capital market.

By leveraging existing digital financial infrastructure and BVN verification, DPRP seeks to make stock ownership accessible to both novice investors and experienced market participants nationwide.

Dangote said the transaction reflects the company’s commitment to inclusive prosperity, broad-based ownership and long-term national economic development.

“This offering offers Nigerians a unique opportunity to become co-owners of a world-class refinery that is transforming Africa’s energy landscape.

“By simplifying the underwriting process through the integration of BVN and digital application channels, we are opening the door for millions of citizens to participate in the growth story of this strategic national asset,” he said.