The Nigerian Exchange Group (NGX) hosted the initial public offering (IPO) of Dangote Petroleum Refinery and Petrochemicals on September 14, 2026. This listing marks the first time a refinery has traded on the Nigerian stock market.
The company offered 4.1 billion ordinary shares at a price of N525 each. The sale aims to raise approximately N2.15 trillion ($1.6 billion). Investors committed roughly N1.5 trillion within the first six hours of the opening.
This transaction represents the largest share sale in African history. Following the launch, Nigerian Exchange Group Plc shares surged 13.85% to become the top gainer of the week.