Investors subscribed about N1.5tn worth of shares in the Dangote Petroleum Refinery and Petrochemicals initial public offering within the first hour of its opening on Monday, September 14, 2026, on the Nigerian Exchange, highlighting strong demand for the offer.

The IPO comprises 4.1 billion ordinary shares priced at N525 each and is targeting approximately N2.15tn, equivalent to about $1.6bn. The offer will close on October 13, 2026.

Within the first hour of the offer opening, investors subscribed to shares worth N1.476tn through 402,634 transactions, according to a post by the Nigerian Exchange Group on its verified X account.

‘Live update on the number of transactions so far since the opening of the #dangoteIPO from the #NGXInvest command center. The numbers are really ticking… truly the IPO OF THE PEOPLE,” NGX tweeted in a live update.

The IPO opened in the early hours of Monday, with investors able to subscribe through about 55 approved electronic application channels, marking the largest digital distribution network ever deployed for a Nigerian IPO.

According to the NGX, the Dangote Refinery IPO recorded 402,634 transactions valued at N1,476,171,994,112 before midday on Monday.

Investors can subscribe through about 55 approved electronic channels, including apps operated by 20 banks, two mobile money companies, the NGX’s Invest platform and 32 fintech and investment firms.

The minimum subscription is 10 shares at N5,250, excluding applicable charges, allowing a wide range of retail investors to participate in the offer.