BREAKING: Full List Of Dignitaries At Dangote Refinery IPO Launch

President and Chief Executive Officer of Dangote Industries Limited, Aliko Dangote, on Monday formally opened the Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE at the Nigerian Exchange (NGX) in Lagos.

Dangote marked the commencement of the public offer by ringing the opening gong on the NGX trading floor, as prominent figures from government, business, banking, the capital market and traditional institutions gathered for the high-profile event.

Among the dignitaries in attendance were Lagos State Governor, Babajide Sanwo-Olu; the Ooni of Ife, Oba Adeyeye Ogunwusi; Founder of Zenith Bank Plc, Jim Ovia; and Chairman of Coronation Group, Aigboje Aig-Imoukhuede.

Also present were Group Chairman of Nigerian Exchange Group, Umaru Kwairanga; Group Executive Director, Commercial Operations, Cement and Foods Businesses at Dangote Industries Limited, Mariya Aliko-Dangote; Group Managing Director and Chief Executive Officer of Nigerian Exchange Group, Temi Popoola; and Group Vice President, Oil and Gas and Fertiliser, Dangote Industries Limited, Devakumar V.G. Edwin.

Other notable attendees included Managing Director and Chief Executive Officer of Vetiva Capital Management Limited, Chuka Eseka; Chief Executive Officer of Nigerian Exchange Limited, Jude Chiemeka; and Group Managing Director and Chief Executive Officer of Zenith Bank Plc, Adaora Umeoji.

According to reports from the event, the Dangote Refinery IPO involves the offering of 4.1 billion ordinary shares at ₦525 per share.

The minimum subscription is set at 10 shares, requiring an investment of ₦5,250, while the public offer is expected to raise approximately ₦2.15 trillion.

The offer will remain open to investors until October 13, 2026.

Speaking at the ceremony, Dangote explained that the decision to take the refinery to the capital market was not solely driven by the need to raise funds.

Rather, he said the move was designed to broaden ownership of the massive industrial project and give Nigerians an opportunity to become shareholders in the refinery.

Dangote described the initiative as an effort to “democratise wealth creation,” stressing that more Nigerians should have the opportunity to own a stake in major businesses and industrial assets operating in the country.

The listing represents a significant milestone for the Dangote Refinery, one of Nigeria’s most prominent industrial projects, as the company seeks to deepen public participation in its ownership through the Nigerian capital market.