Nigerian investment platform, Bamboo, has confirmed that unprecedented demand for the Dangote Refinery Initial Public Offering, IPO, is locking some users out of its app.

The platform, in a post on X on Monday, September 14, 2026, at 9:41am, disclosed that traffic to its app had far exceeded expectations following the opening of the IPO subscription window.

Bamboo, in the post, said: “Hey everyone, we’re getting a much higher than expected traffic trying to get into the Dangote IPO and it’s making it difficult for some users to log into the Bamboo app.

“We’re working on a fix and it will be up and running shortly.”

Reacting to the development, a Nigerian commentator, Imran Muhammad, in a post on X, said: “It looks like the rush for the Dangote Refinery IPO has crashed Bamboo.”

Bamboo’s disclosure comes on the same day the Dangote Petroleum Refinery and Petrochemicals IPO officially opened for public subscription, marking what analysts have described as one of the most anticipated capital market events in Nigeria’s history.

The IPO, which opened on September 14, 2026, and is scheduled to close on October 13, 2026, involves the sale of 4.1 billion ordinary shares at a fixed price of N525 per share.

At full subscription, the offer is expected to raise about N2.15 trillion, equivalent to roughly $1.6 billion, making it the largest share sale in African corporate history.

The minimum subscription for retail investors is 10 shares, which translates to N5,250, with further applications required to be made in multiples as stated in the offer prospectus.

The offer terms were confirmed at a signing ceremony held at Eko Hotels, Lagos, on September 7, 2026, following approval from Nigeria’s Securities and Exchange Commission, SEC, and the release of the official offer prospectus.

Vetiva Advisory Services Limited is coordinating the capital raise, while retail investors are expected to apply through licensed stockbrokers and approved online investment platforms, including Bamboo.

Investor interest in the refinery had already been strong ahead of the IPO, following a $2.5 billion private placement completed in July, which was reportedly oversubscribed by 270 per cent.

The refinery has also recorded a sharp turnaround in financial performance, swinging from a $476 million loss in the full year of 2025 to a net income of $1.82 billion in the first half of 2026, aided by strong jet fuel exports and improved refining margins.

Proceeds from the IPO are expected to partly fund a five-year expansion project estimated at N18.9 trillion, aimed at doubling the refinery’s capacity from 700,000 to 1.4 million barrels per day by 2029.

Shares of the Dangote Petroleum Refinery are expected to list on the Main Board of the Nigerian Exchange once the offer closes, with an indicative timetable pointing to trading commencing in late November 2026.

As at the time of Bamboo’s disclosure, the platform had not given a specific timeline for when full access to its app would be restored, though it assured users that a fix was underway.