Dangote Says ₦100,000 Refinery IPO Investment Could Reach ₦1 Million in Two Years

Aliko Dangote says investors who buy and hold shares in Dangote Petroleum Refinery and Petrochemicals could see substantial gains if the company’s share price rises after its IPO. The shares are being offered at ₦525 each, and he said they could eventually trade between ₦5,000 and ₦10,000, depending on market conditions. The ₦2.15 trillion offer comprises 4.1 billion ordinary shares, with a minimum subscription of 10 shares valued at ₦5,250. It opened on September 14, 2026, and is expected to close on October 13, 2026, subject to the prospectus terms. Retail, institutional and eligible African investors can participate. Dangote urged investors not to sell too early, arguing that long-term holders could benefit from dividends, including potential dollar-denominated payments. The refinery reported about ₦19.47 trillion in revenue and ₦2.55 trillion profit after tax in the first half of 2026.

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