Dangote to Prioritise Investors with N50,000 or Below in Refinery IPO

President of Dangote Group, Aliko Dangote, has said investors applying for ₦50,000 or less in the Dangote Petroleum Refinery’s initial public offering (IPO) will receive priority consideration in the allocation of shares.

Dangote made the disclosure on Wednesday during the final leg of the refinery’s nationwide IPO roadshow in Port Harcourt, Rivers State.

He said the offer was designed to give ordinary Nigerians an opportunity to own shares in one of the country’s major industrial investments, rather than leaving participation largely to wealthy individuals and institutional investors.

“We will prioritise people with 50,000 and below,” Dangote said, according to a statement issued by the Dangote Group.

He added that investors from Nigeria and other African countries had already committed substantial capital to the refinery, but the public offer would allow more Nigerians to participate directly in its ownership.

“African investors have invested in this refinery. Now it is time for Nigerians to invest in themselves and participate in a project that is creating value, jobs and opportunities for generations to come,” he said.

Dangote also encouraged prospective shareholders to consider the investment from a long-term perspective, arguing that wider participation in the capital market could support wealth creation and portfolio diversification.

He said increasing the number of individual shareholders could promote financial literacy and encourage Nigerians to develop a stronger savings and investment culture.

Economist Bismarck Rewane, who attended the Port Harcourt event, highlighted the South-South region’s economic potential and the importance of translating its natural resources into sustainable prosperity, infrastructure development and improved living standards.

The roadshow marked the final stop in the nationwide campaign to explain the offer and encourage participation among prospective investors.

The IPO comprises 4.1 billion ordinary shares priced at ₦525 each. The minimum subscription is 10 shares, costing ₦5,250, while the offer’s closing date has been extended to October 27, 2026.

The refinery hopes to attract millions of shareholders as it seeks funding for its planned expansion.

However, priority consideration does not guarantee that every applicant will receive the full number of shares requested. Prospective investors have been advised by the Securities and Exchange Commission to review the offer documents and apply only through approved subscription channels.