Dangote Refinery began its initial public offering on the Nigerian Exchange Limited on September 14, 2026, marking the first time a refinery has been listed on Nigeria’s stock market in the exchange’s 66-year history. Aliko Dangote, president of Dangote Group, opened trading by sounding the NGX gong as the 700,000-barrel-a-day facility entered the market. He said the refinery has become Europe’s biggest jet-fuel supplier and argued that European countries should appreciate Nigeria, under President Bola Ahmed Tinubu, for helping keep their aircraft operating. Dangote said the facility had completely sold its jet-fuel output from August and September, leaving supplies reserved exclusively for the Nigerian market. The offering values the refinery at N2.15 trillion, equivalent to $1.6 billion, and covers 4.1 billion ordinary shares with a nominal value of $0.000013 each. Shares are being offered at N525 apiece, with the IPO aimed at attracting 10 million Nigerian investors.
