Dangote Refinery IPO shares cost ₦525 each and the minimum is 10 shares, ₦5,250. The offer is expected to run from 14 September to 13 October 2026, though the official site, ipo.dangote.com, still lists the dates as “to be confirmed”. You need a BVN, a valid ID, a bank account and a CSCS number. Subscribe only through channels listed on that site.
Dangote Petroleum Refinery and Petrochemicals FZE is selling shares to the public for the first time. The company calls it “the IPO for the People” because ₦5,250 gets you in. This guide covers what is confirmed, what you need ready, and how not to get scammed. Updated 9 September 2026.
The offer at a glance
| Item | Detail | Source |
|---|---|---|
| Price per share | ₦525 | ipo.dangote.com |
| Minimum subscription | 10 shares, ₦5,250 | ipo.dangote.com |
| Offer opens | 14 September 2026 (reported) | Vetiva Capital, via Vanguard |
| Offer closes | 13 October 2026 (reported) | Vetiva Capital, via Vanguard |
| Shares on offer | 4.1 billion | Nairametrics, BusinessDay |
| Amount being raised | About ₦2.15 trillion | Nairametrics |
| Listing | Nigerian Exchange (NGX), expected November 2026 | Vetiva Capital, via Vanguard |
| Prospectus | Not yet published | ipo.dangote.com |
The Securities and Exchange Commission approved the offer in early September, and the issuing house has named 14 September as the opening day. The official site has not confirmed it yet. We will update this page the day it does.
Who can apply
Aliko Dangote has said there is “no segregation on who can own these shares”. In practice you need to be 18 or older with a Nigerian bank account and a BVN. Rules for Nigerians abroad will be in the prospectus. Do not assume you qualify from outside the country until it is published.
What you need before the offer opens
Get these ready this week. Every one of them takes longer than the portal promises.
- BVN. Dial
*565*0#on the phone linked to your bank to retrieve it. - Valid ID. NIN slip, international passport, driver’s licence or voter’s card.
- A funded bank account. The money must clear before the offer closes, not on the last day.
- A CSCS number, also called a CHN. This is your share-ownership account with the Central Securities Clearing System. You cannot hold shares without it. A licensed stockbroker opens it for you free when you open a trading account. Some banks do the same through their stockbroking arms.
Why the CSCS number matters: allotted shares are credited to it, not to your bank account. Without one your application cannot be processed.
How to subscribe
The official site describes three steps: learn, get ready, subscribe. The approved subscription channels have not been published yet. When they are, they will appear on ipo.dangote.com and nowhere else. Expect three routes:
- Through your bank. The site’s own help assistant already mentions subscribing “through your bank”, so receiving banks will be on the list.
- Through a licensed stockbroker or an investment app registered with the SEC.
- Through the NGX e-offering portal at invest.ngxgroup.com, which uses your BVN and links to your CSCS number.
Pick one channel. Enter the number of shares, in the multiples the prospectus sets. Pay by transfer or card. Keep the acknowledgement.
Realistic timeline
| When | What to do |
|---|---|
| Now to 13 September | Open a stockbroker or bank stockbroking account so your CSCS number exists before the window opens. |
| 14 September to 13 October | Subscribe. Do it in the first two weeks. Last-day bank transfers fail. |
| After the close | Allotment. If the offer is oversubscribed you may get fewer shares than you paid for, with the balance refunded to your bank account. Expect weeks, not days. |
| November 2026 | Shares expected to start trading on the NGX. You can only sell after listing. |
Scams to expect
The SEC has already warned about this offer. Rules that will save your money:
- Nobody official will ask for your PIN, password or OTP. The IPO site says this in bold.
- No “special access”, “pre-allocation” or “reserved shares” on WhatsApp or Telegram. There is no such thing.
- Never pay into a personal account. Payments go through a bank or a licensed platform in the company’s name.
- A ₦525 share cannot be bought “cheaper” from anyone.
Before you put money in
Shares can fall as well as rise, and you may get back less than you paid. Read the prospectus when it is published. It states the risks, the allotment rules and the dividend policy, which reports say will be dollar-based. Do not put in money you need before November. This page is information, not financial advice; where in doubt, ask a licensed stockbroker.
Related: Nigeria refineries status and capacity · Fuel price in Nigeria today · Dollar to naira today
Sources: ipo.dangote.com · Vanguard · Nairametrics · BusinessDay · CNBC Africa
Leave a Reply