Dangote Refinery IPO: Associations Urge Nigerians To Buy Through Stockbrokers 

The Chartered Institute of Stockbrokers (CIS) and the Association of Securities Dealing Houses of Nigeria (ASHON) have urged retail and institutional investors, particularly those with a long-term outlook, to participate in the offer through any Securities & Exchange Commission (SEC) licensed stockbroker.

The offer is scheduled to open on September 14, 2026 at N525 per share, with a minimum subscription of 10 shares.

CIS and ASHON said the refinery’s integrated refining and petrochemicals model, its scale and its role in domestic energy supply give the business strategic relevance to Nigeria.

They added that the enterprise has the potential to support import substitution, foreign-exchange earnings, industrial development and greater economic participation through the capital market.

Clarifying the application process, the bodies said all stockbroking firms licensed by SEC are accredited receiving agents for the offer.

They said, this gives both existing and first-time investors access to professional guidance and the flexibility to participate through an intermediary they know and trust.

President of CIS, Dr Fiona Ahimie, said, “the proposed listing is a welcome development for Nigeria and for our capital market. The refinery combines a strong integrated business model with the scale and strategic importance required to contribute meaningfully to the country’s energy security and industrial growth. It also gives Nigerians an opportunity to participate in the ownership of an important national enterprise. Investors with a long-term outlook should consider being part of this opportunity.”

Ahimie added that the offer could help strengthen public participation in wealth creation and deepen understanding of how the capital market connects Nigerian savings with productive enterprise.

She said the nationwide network of licensed stockbrokers is available to explain the offer process and help investors participate smoothly.

Chairman of ASHON, Sehinde Adenagbe added that “bringing an enterprise of this scale to the public market broadens participation, supports wealth creation and adds depth to Nigeria’s investment landscape. The stockbroking community welcomes the offer and is ready to support a seamless process so that investors across the country can take part.”

CIS and ASHON said wide and inclusive participation would allow more Nigerians to share in the growth of a major indigenous enterprise while reinforcing the capital market’s role in funding businesses of national importance.

The bodies advised that, as with every equity investment, prospective investors should read the approved offer documents and participate at a level consistent with their financial circumstances and long-term objectives.

CIS and ASHON expressed support for a successful offer and listing, saying that broad participation would strengthen Nigeria’s investment culture, expand local ownership and contribute to the continued development of the capital market.