DANGOTE REFINERY SECURES SEC APPROVAL FOR IPO, SETS PRICE AT ₦525/SHARE

The Securities and Exchange Commission (SEC) has approved the Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE, with the shares priced at ₦525 each.  

The offering comprises 4.1 billion ordinary shares and could raise approximately ₦2.15 trillion if fully subscribed. The SEC has also registered the refinery’s existing 120.13 billion ordinary shares.  

The approval paves the way for the refinery to proceed with the next stages of the public offering, which could become Africa’s largest-ever share sale. Reuters reports that the order book is expected to open on September 14, 2026.  

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