The Initial Public Offering (IPO) of Dangote Refinery officially kicked off on the Nigerian Exchange Limited (NGX) on Monday, September 14, 2026.
Philips News reports that Aliko Dangote, the President of Dangote Group, sounded the NGX gong as the 700,000-barrel-per-day refinery became the first refinery ever offered on the Nigerian stock market in the Exchange’s 66-year history.
Dangote said in his remarks at the IPO launch that the refinery is the largest supplier of jet fuel to Europe.
According to him, Europe should thank Nigeria under the leadership of President Bola Ahmed Tinubu for keeping its planes flying.
“Dangote Refinery is the largest supplier of jet fuel to Europe. Europe must really thank Nigeria under the leadership of President Tinubu for keeping their planes flying, I’m very serious. Right from August, September, we sold out in terms of jet fuel, we have nothing to sell anymore, we only reserve that for Nigeria.”
Meanwhile, PhilipsNews reports that Dangote Refinery’s IPO is valued at N2.15 trillion, or $1.6 billion.
The Dangote Refinery IPO comprises 4.1 billion ordinary shares, each with a nominal value of $0.000013, at an offer price of N525 per share, targeting 10 million Nigerian investors.
