How to Buy Dangote Refinery Shares

The Dangote Petroleum Refinery and Petrochemicals FZE offer has closed. The subscription window ran from 14 September 2026 and shut on 27 October 2026, after an SEC-approved extension announced on 12 October 2026. Allotment is now in progress, so you can no longer apply — but you can still check what happens next and how the process worked.

• A full Bank Verification Number (BVN). A Non-Resident BVN could not be used to buy shares in your own name.
• A Nigerian bank account, used to open the CSCS account that holds your shares.
• A CSCS or CHN number, or a stockbroker who will create one for you.
• Your next of kin details, which the SEC requires.
• Naira to pay with. The offer was priced at ₦525 per share, with a minimum of 10 shares (₦5,250).

1. Check the official offer site at ipo.dangote.com for the current status. It now states the offer closed on 27 October 2026 and that allotment is in progress.
2. If you applied before the close, wait for your application to be checked. The registrars collect and check all applications.
3. Watch for the Basis of Allotment, which the Issuing Houses send to the SEC for approval.
4. Look out for the Allotment Announcement, published once the SEC approves the basis of allotment.
5. Expect any extra money back. If you got fewer shares than you asked for, or your application was not accepted, the extra goes back to your bank account with any accrued interest or profit.
6. Check that your BVN, CHN and bank details match, because allotted shares are credited to your CSCS account.
7. Wait for listing on the Nigerian Exchange (NGX). The revised timetable expects NGX trading 15 business days after the allotment date, which is expected on 17 November 2026. These dates can change.
8. For updates on your own application, contact the bank, app or broker you applied through.

Eligibility was wider than Nigeria alone. Any Nigerian with a valid BVN could take part, regardless of where they were in the world. Nigerians living abroad needed a full BVN and a Nigerian bank account; a Non-Resident BVN could not be used for now. Foreign nationals without a Nigerian passport generally could not apply through a retail broker, and usually invest through a custodian bank instead.

The offer was regulated by the SEC and listed on the Main Board of the Nigerian Exchange Group. Shares are held with the CSCS, Nigeria's central depository, and you manage them through your stockbroker.

Several risks applied. IPO shares can trade below the offer price after listing. If the offer was oversubscribed, you may receive fewer shares than you applied for. The shares are priced in naira, so if you earn in pounds, a weaker naira reduces the value of your investment when converted back.

Be alert to fraud. Never share your PIN, password or OTP, and use only channels listed on the official offer site. Keep your BVN and bank details secure, and make sure your name matches across your records.

If you need help, the official site lists a toll-free line on 0800 000 DIPO (08000003476), a chargeable line on 0700 CALL DIPO, short code 6970 for MTN and Glo, a WhatsApp and international number on +234 708 493 6970, and an email address at ir@dangote.com. International investors can use dangoteipopanafrica@stanbicibtc.com.

Can I still apply for Dangote Refinery shares? No. The offer closed on 27 October 2026 and allotment is in progress. Check the official offer site for any future updates.

Who could apply for the offer? Any Nigerian with a valid BVN, wherever they were in the world. Nigerians abroad also needed a full BVN and a Nigerian bank account. A Non-Resident BVN could not be used to buy shares in your own name.

What was the minimum investment? The offer price was ₦525 per share, with a minimum of 10 shares, or ₦5,250, and multiples of 10 after that.

What happens if I am allotted fewer shares than I asked for? The extra money goes back to your bank account, together with any accrued interest or profit.

When will the shares start trading? The revised timetable expects NGX trading 15 business days after the allotment date, which is expected on 17 November 2026. These dates can change, so check the official offer documents and SEC-approved notices.