Nigerians seeking to own a stake in one of Africa’s biggest industrial projects will be able to subscribe to the landmark Dangote Petroleum Refinery and Petrochemicals FZE Initial Public Offering (IPO) through FirstBank, beginning Monday, September 14, 2026.

FirstBank, one of the Receiving Banks for the offer, has announced a range of digital and physical channels through which eligible investors can submit their applications and make payments for the Dangote Refinery shares.

The development gives retail and institutional investors across Nigeria easier access to the much-anticipated capital market offer as the refinery moves towards listing on the Main Board of the Nigerian Exchange Limited.

The IPO comprises 4.1 billion ordinary shares priced at ₦525 per share, with the minimum subscription fixed at 10 shares, valued at ₦5,250, and subsequent subscriptions required to be in multiples of 10 shares.

Offer Opens September 14

According to the offer details, subscription will open on September 14, 2026, and close on October 13, 2026.

Investors are required to make full payment upon application, while eligible retail investors may also qualify for bonus shares, subject to the terms and conditions contained in the Prospectus.

The proceeds from the offer are intended to support the expansion of refinery operations, further positioning the project as a major player in Nigeria’s energy and industrial sectors.

How to Subscribe Through FirstBank

FirstBank said investors can take advantage of its extensive physical and digital banking network to participate in the offer.

The available channels include:

– FirstMobile

– FirstOnline

– LIT App

– PayByLink

– FirstDirect, for corporate customers

– FirstMonie Agents

– Any FirstBank branch nationwide

Detailed subscription guidelines and application links are expected to be made available to investors when the offer officially opens.

Major Investment Opportunity

The Dangote Refinery IPO represents a significant development in Nigeria’s capital market, providing Nigerians and other eligible investors with an opportunity to take an equity position in an industrial asset with strategic importance to the country’s energy sector.

The refinery is expected to play a major role in strengthening domestic refining capacity, reducing dependence on imported petroleum products, supporting industrial development and contributing to economic growth.

For FirstBank, facilitating access to the offer aligns with its broader focus on connecting customers to investment opportunities capable of supporting long-term wealth creation and financial inclusion.

The bank said its extensive branch network and digital platforms are designed to make participation in the IPO more convenient for investors across the country.

FirstBank Issues Investment Disclaimer

FirstBank, however, clarified that it is acting solely as a Receiving Bank for the offer.

The bank advised prospective investors to carefully read the IPO Prospectus and obtain independent professional advice before making any investment decision.

With the offer opening on September 14, attention is now expected to shift to how strongly retail and institutional investors respond to the opportunity to acquire shares in one of Nigeria’s most prominent private-sector industrial projects.

Key Dangote Refinery IPO Details

– Company: Dangote Petroleum Refinery & Petrochemicals FZE

– Offer: 4.1 billion ordinary shares

– Offer Price: ₦525 per share

– Minimum Subscription: 10 shares

– Minimum Investment: ₦5,250

– Opening Date: September 14, 2026

– Closing Date: October 13, 2026

– Payment: Full payment upon application

– Retail Incentive: Eligible investors may receive bonus shares, subject to the Prospectus

– Use of Proceeds: Expansion of refinery operations

– Proposed Listing: Main Board, Nigerian Exchange Limited

– FirstBank’s Role: Receiving Bank

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