Moniepoint and TeamApt have partnered to open up retail participation in the Initial Public Offering of Dangote Petroleum Refinery, bringing Nigeria’s largest-ever public offering within reach of everyday Nigerians through digital banking channels and point-of-sale terminals nationwide.
The collaboration allows Nigerians to buy into Africa’s largest petroleum refinery, a 650,000-barrel-per-day facility considered central to the country’s energy future, at N525 per share. Investors can subscribe for a minimum of 10 shares and a maximum of 500 shares per transaction.
For the first time, a public offering of this magnitude is being extended through outlets already integrated into the daily financial routines of ordinary Nigerians.
Customers are able to visit any Moniepoint agent location nationwide and subscribe directly through the POS terminal, extending the IPO’s reach into communities across the country.
Those who prefer digital transactions can also subscribe through the Moniepoint Personal and Business Banking apps, completing the entire process within seconds from their mobile phones.
Moniepoint MFB and TeamApt, both operating as independent subsidiaries under the Moniepoint Group, bring separate but complementary strengths to the initiative. Moniepoint MFB supplies the customer reach and distribution network that carries the opportunity into communities across Nigeria, while TeamApt supplies the technology infrastructure that ensures transactions are processed reliably and at scale.
For Moniepoint MFB, the initiative ties directly into its broader mission of helping Nigerians attain greater financial happiness by widening access to financial services and opportunities. The bank’s POS network currently spans all 774 local government areas in Nigeria, giving it a physical footprint in communities far beyond the traditional centres of financial activity.
Managing Director and Chief Executive Officer of Moniepoint Microfinance Bank, Babatunde Olofin, said: “The Dangote Petroleum Refinery IPO gives Nigerians a chance to participate in the growth of a significant Nigerian business, and by making it accessible through our POS network and app, we are helping democratise ownership of an important Nigerian asset. When more Nigerians can participate, more Nigerians can share in the growth around them.
“Moments like this are exactly why we built Moniepoint the way we did.
“We have always believed that financial happiness is about more than the ability to transact. It is also about having access to opportunities to grow and build wealth. The Dangote Petroleum Refinery IPO gives Nigerians a chance to participate in the growth of a significant Nigerian business. By making it accessible through our POS network particularly, we are helping democratize wealth opportunities, reaching everyday people – market traders, artisans, and first-time investors wherever they are.”
According to him, underpinning that reach is the payment infrastructure built and operated by TeamApt, a CBN-licensed switching and processing company.
He said TeamApt has spent more than a decade building and running the payment rails behind Moniepoint and a broad range of banks and financial institutions across Nigeria.
He said the infrastructure allows a capital-market offering to reach retail investors reliably and at scale, enabling the Nigerian Exchange (NGX) to enter the retail market and open the door to an entirely new class of investors.
Managing Director and Chief Executive Officer of TeamApt Ltd, Dennis Ajalie, said: “For years, we have been building the rails that quietly power finance across Nigeria, and this is a glimpse of what those rails were built for.”
“Our technology is connecting a major capital-markets opportunity to a distribution network that reaches millions, making it possible for retail participation to happen through channels that are already part of everyday life. This is bigger than any single offering; it signals where retail participation in our markets is heading. As infrastructure builders, we see opportunities to extend these capabilities to other sectors and use cases in the future, creating new ways for more Nigerians to participate in and benefit from the growth of the economy.”
He said the collaboration demonstrates how technology, financial services and distribution can work together to expand access to opportunities across Nigeria’s financial ecosystem.
