32 Approved Channels to Buy Dangote Refinery IPO

Investors seeking to participate in the Dangote Petroleum Refinery and Petrochemicals IPO can purchase shares through 32 approved electronic channels designated for the public offer.

The approved channels comprise 19 commercial banks, 10 fintech and investment platforms, two mobile-money operators and the NGX Invest platform, giving retail investors several options for subscribing to the landmark offer.

The approved banks are Access Bank, Stanbic IBTC, FirstBank, United Bank for Africa, GTCO, Zenith Bank, Ecobank, FCMB, Fidelity Bank, Globus Bank, Jaiz Bank, Keystone Bank, Lotus Bank, PremiumTrust Bank, Providus Bank, Sterling Bank, TAJ Bank, Union Bank and Wema Bank.

The approved fintech and investment platforms are Bamboo, Flutterwave, InvestNaija, Ladder, Moniepoint, Paga, Payaza, PiggyVest, Vetiva Invest and We.Yan.

The two approved mobile-money channels are Airtel SmartCash and MTN MoMo, while NGX Invest is also listed as an approved electronic application channel.

The IPO is priced at ₦525 per share, with investors able to purchase a minimum of 10 shares, requiring an initial investment of ₦5,250. Additional applications must be made in multiples of 10 shares.

Dangote Refinery is offering 4.1 billion ordinary shares, with the public offer expected to raise approximately ₦2.1525 trillion. The proceeds will be used partly to finance the refinery’s expansion programme.

The offer is scheduled to open on September 14, 2026, and close on October 13, 2026, according to the IPO information provided by an approved distribution platform.

Retail investors are required to apply through an approved electronic application channel rather than submitting paper application forms. Prospective investors are advised to ensure they have the necessary banking and identification details, including a valid bank account and BVN.

Investors are also encouraged to verify that they are using one of the officially approved channels before making payments, amid concerns over fraudulent platforms and unauthorised offers surrounding the highly anticipated IPO.

The refinery, located in the Lekki Free Trade Zone in Lagos, is Africa’s largest oil refinery. Its expansion programme targets approximately 1.4 million barrels per day of refining capacity by 2029, subject to regulatory approvals, financing and successful completion of construction.

The public offer represents a major opportunity for Nigerian investors to acquire an ownership stake in one of the country’s most significant industrial assets.