Chairman of the Dangote Group, Aliko Dangote, has confirmed that ordinary people will be able to buy shares in the Dangote Refinery within the next four to five months.
He made this known on Saturday, February 21, 2026, during a media tour of the refinery alongside the Group CEO of Nigerian National Petroleum Company Limited (NNPC), Bayo Ojulari, and other senior executives.
The refinery, valued at about $20 billion, is preparing to list on the Nigerian Exchange Limited (NGX). Dangote earlier disclosed plans to list 10% of the refinery to the public as part of its Initial Public Offering (IPO). 
Here is why this listing is important and how you can prepare to buy the shares.
ALSO READ: Ghana Wants to Import Barrels of Petroleum Products From Dangote
Why the Dangote Refinery IPO Is a Big Deal
1. It Controls About 60% of Nigeria’s Fuel Market
The refinery already controls roughly 60% of Nigeria’s fuel market, making it a dominant player in petrol, diesel, and aviation fuel supply.
2. Largest Single-Train Refinery in the World
The refinery processes 650,000 barrels per day, and expansion plans aim to increase capacity to 1.4 million barrels per day within three years.
3. You Buy in Naira, Earn Dividends in Dollars
Investors will purchase shares in naira, but dividends are expected to be paid in US dollars. This structure is backed by projected export earnings of about $6.4 billion, largely from petrochemicals such as polypropylene and fertiliser.
These exports bring in large amounts of foreign currency, which makes it possible for the company to pay dividends in dollars.
4. Strong Institutional Backing
NNPC owns about 7.25% of the refinery, which shows strong confidence from a major national institution.
5. It Could Transform the Nigerian Stock Market
Experts say the listing could move the NGX’s total market capitalisation from about ₦105 trillion to over ₦200 trillion, nearly doubling the size of the market.
6. It Gives Nigerians Access and Strengthens the Stock Market
The listing will allow Nigerians to own shares in a major national asset, and it will also attract more investors, increase trading activity, and make the Nigerian stock market stronger and more valuable.
How to Buy Dangote Refinery Shares (When the IPO Opens)
You cannot buy the shares yet, but preparation is key. According to a finance educator and financial analyst on X, @TomolaGroup, these are the steps to take before the IPO opens.
Step 1: Get a Traditional Stockbroker
You will need a registered dealing member of the NGX.
Fintech apps such as Bamboo, Trove, or Chaka trade mostly in the secondary market. An IPO is a primary market offering, meaning you buy directly from the company at a fixed price.
Top NGX brokers (ranked by 2025 trade value) include:
- CardinalStone Securities
- Stanbic IBTC Stockbrokers
- Meristem Stockbrokers
- Cordros Securities
- Chapel Hill Denham
- Afrinvest Securities
Choose one of them and open an account.
Step 2: Open a CSCS Account
Your broker will help you open a CSCS account (Central Securities Clearing System).
You will need:
- BVN
- Valid ID
- Passport photograph
- Bank account details
Step 3: Start Saving Now
Set money aside in either a money market fund or a high-yield savings account. IPO windows do not stay open for long, so those with cash ready get allocated.
RELATED: Dangote Hands Key Executive Roles to His 3 Daughters
Step 4: Read the Prospectus
When the prospectus drops, read it yourself.
It will contain:
- Offer price
- Minimum subscription
- Application process
- Timeline
- Dividend structure
Do not rely on social media summaries.
Step 5: Apply Early
IPOs are often oversubscribed. Early applicants typically receive allocations first. So move quickly once the window opens.
Important Investment Reminders
- Do not invest rent, food, or emergency funds.
- Invest only money you can afford to lose.
- Don’t buy everything at once; buy gradually over time instead.
- Ignore hype and rumours.
- Expect volatility.
- Invest with a clear long-term strategy.
The Dangote Refinery IPO is expected to be one of the most significant listings in Nigeria’s capital market, both for its size and its potential impact on investors and the wider economy.
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