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MARKET CLOSED SNAPSHOT · FRI 25 SEP 2026 · WAT

IPO GUIDE · UPDATED 27 SEP 2026

How to Buy Dangote Refinery IPO Shares (2026)

The Dangote Petroleum Refinery IPO — 4.1 billion shares at ₦525 — is open until 13 October 2026. Here is exactly how to subscribe, what you need, and what it costs. Not investment advice.

In short

To buy Dangote Refinery IPO shares: pick an approved channel (NGX Invest, your bank, a fintech app like Bamboo or i-invest, or a Moniepoint agent), have your BVN and a valid ID ready, apply for at least 10 shares (₦5,250) and pay in full before 13 October 2026. No stockbroker account is required to apply.

Offer price₦525 / share
Minimum10 shares (₦5,250)
Offer size4.1bn shares · ~₦2.15tn
Closes13 Oct 2026

Offer price ₦525 per share. Applications start at 10 shares, in multiples of 10. Full payment is due with your application.

Step-by-step: how to subscribe

  1. Pick an approved subscription channel

    About 55 approved electronic channels are taking subscriptions: the NGX Invest platform, 20 banks (e.g. Stanbic IBTC’s e-subscription portal and mobile app), 32 fintech and investment firms, and Moniepoint agents (24/7). Popular digital routes include Meristem’s dedicated portal (lead broker to the offer), i-invest by Parthian (a joint stockbroker to the offer), Bamboo, and Flutterwave’s web and app channels. The SEC warns against unofficial agents — use only approved channels.

  2. Get your details ready

    You will need your BVN and a valid ID (NIN accepted). Existing stock-market investors should have their CSCS account number and Clearing House Number (CHN) handy — it speeds things up. No CSCS account? You can still be allotted shares through a temporary Registrar Identification Number and move them into a stockbroking account afterwards.

  3. Apply and pay in full

    Select the Dangote Refinery public offer on your chosen channel, enter the number of shares (in multiples of 10, starting at 10), and pay the full amount with your application. Keep your receipt or confirmation SMS. You may subscribe multiple times during the offer period to build your holding.

  4. Allotment, then listing

    After the offer closes on 13 October, shares are allotted and credited through CSCS. The shares are expected to list on the Nigerian Exchange after completion, when you can trade them like any other listed stock. Demand has been heavy — about ₦1.5 trillion was subscribed in the first hour — so allotment may be pro-rated if the offer is oversubscribed (a greenshoe of up to 30% allows extra shares to be issued).

Costs and tax

The subscription itself attracts no VAT. Dividends later paid on the shares are generally subject to 10% withholding tax, and capital gains tax may apply if you sell at a profit. Check the prospectus for the full terms.

Before you send money

  • Read the offer prospectus (available via the Dangote Refinery IPO portal, ipo.dangote.com) — it carries the company’s financials and the investment risks.
  • Verify your channel is on the approved list; never pay an individual agent.
  • This guide is information, not investment advice. Consider speaking to a licensed stockbroker or financial adviser.

Quick answers

What is the minimum I can invest?

10 shares at ₦525 each — ₦5,250 total, before any channel charges.

When does the IPO close?

13 October 2026. Applications with full payment must be in before the close.

Do I need a stockbroker?

Not necessarily. Banks, fintech apps, NGX Invest and Moniepoint agents all accept subscriptions. A stockbroker/CSCS account helps you hold and later trade the shares.

I have never bought shares before. Can I still apply?

Yes — the offer was designed for first-time investors (“the IPO for the people”). Digital channels can create your CSCS account during the process, or you can be allotted via a temporary Registrar ID.

When will the shares start trading?

They are expected to list on the NGX after the offer closes and allotment is completed.

Quick summary

  • What: 4.1 billion Dangote Petroleum Refinery shares at ₦525 each (~₦2.15 trillion total).
  • Minimum: 10 shares = ₦5,250, in multiples of 10, paid in full with your application.
  • How: NGX Invest, 20 banks, 32 fintech/investment firms, or a Moniepoint agent — about 55 approved channels. BVN and a valid ID (NIN accepted) required.
  • Deadline: 13 October 2026. Heavy demand means allotment may be pro-rated if oversubscribed.
  • After: shares are allotted and credited via CSCS, then expected to list on the NGX for trading.

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