The Dangote Petroleum Refinery and Petrochemicals FZE is set for a landmark Initial Public Offering (IPO) after the Securities and Exchange Commission (SEC) approved the commencement of its proposed share offer, which could raise approximately ₦2.15 trillion.
The proposed IPO comprises 4.1 billion ordinary shares at ₦525 per share. If fully subscribed, the offer could become one of the largest capital market transactions in Nigeria’s history, opening an opportunity for investors to participate in one of Africa’s most strategic industrial assets.
The SEC conveyed the approval in a letter to the Lead Issuing House, Vetiva Advisory Services Limited, signed by Abdulkadir Abbas, Director of the Securities and Investment Services Department of the Commission.
The Commission also registered the company’s existing 120.13 billion ordinary shares, further clearing the way for the next stage of the IPO process.
The regulatory approval authorises the refinery to proceed with its Completion Board Meeting and Signing Ceremony, marking a significant milestone towards the proposed public offering.
Located in Ibeju-Lekki, Lagos, the Dangote Refinery and Petrochemicals Complex occupies approximately 2,635 hectares and houses an integrated refining and petrochemicals facility with a current refining capacity of 700,000 barrels per day.
The facility is the world’s largest single-train refinery and includes a 900,000-tonnes-per-annum polypropylene plant powered by a dedicated 435-megawatt power plant.
At full production, the refinery is designed to meet Nigeria’s domestic demand for refined petroleum products while generating substantial volumes for export markets. An ongoing expansion is expected to increase its capacity to 1.4 million barrels per day, positioning it to potentially become the world’s largest refinery.
The complex is supported by extensive infrastructure, including a self-sufficient marine facility designed to optimise logistics and freight efficiency. It also has the world’s largest single order of five Single Point Moorings (SPMs) and incorporates advanced processing technology that meets World Bank, United States Environmental Protection Agency (EPA), European emission standards and Nigerian regulatory requirements.
Its integrated port infrastructure includes multiple quays capable of handling Panamax vessels, liquid cargo shipments and roll-on/roll-off operations, while its storage network comprises 177 tanks with a combined capacity of 4.742 billion litres.
With SEC approval now secured, Dangote Petroleum Refinery is poised to embark on a historic public offering that could significantly broaden investor participation in one of Nigeria’s biggest industrial ventures.
The proposed IPO also represents a major development for Nigeria’s capital market, with the potential ₦2.15 trillion offer positioning the refinery at the centre of one of the country’s most significant anticipated public share offerings.
