The much-anticipated Dangote Petroleum Refinery IPO is now open, giving Nigerians an opportunity to buy a stake in Africa’s largest single-train refinery.

The offer opened on September 14, 2026, and investors can subscribe at a fixed price of ₦525 per share. The minimum application is 10 shares, meaning Nigerians can start with ₦5,250. The offer closes on October 13, 2026. 

The refinery is offering 4.1 billion shares, with the transaction targeting about ₦2.15 trillion if fully subscribed. The shares are expected to be listed on the Nigerian Exchange after the offer period. 

How much do you need?

At ₦525 per share:

• 10 shares = ₦5,250
• 20 shares = ₦10,500
• 50 shares = ₦26,250
• 100 shares = ₦52,500
• 200 shares = ₦105,000
• 500 shares = ₦262,500
• 1,000 shares = ₦525,000

Bamboo says there are no application fees for the IPO. 

How to buy Dangote Refinery shares on Bamboo

If you already use Bamboo, the process is relatively straightforward.

1. Open the Bamboo app

Log into your account and look for the Dangote Refinery IPO offer.

2. Check your details

Bamboo says investors can participate without having an existing CSCS account. If necessary, Bamboo can facilitate the creation of one after the application. 

3. Choose the number of shares

Decide how many shares you want to apply for.

For example, 100 shares would require ₦52,500.

4. Fund your account

Make sure you have enough money available before submitting the application.

5. Submit your application

Review the number of shares and amount before confirming.

6. Wait for allotment

Applying for shares does not automatically mean you will receive every share requested.

If demand exceeds the number of shares available, investors could receive fewer shares than they applied for, with the applicable allotment process determining the final allocation. 

One important warning

The ₦525 price is the IPO offer price. It does not mean the shares will remain at ₦525 once they begin trading on the NGX.

After listing, the market price can rise or fall.

So buying the minimum 10 shares for ₦5,250 does not guarantee that the investment will increase in value.

Invest only money you can afford to have tied up or potentially lose. Do not borrow money simply to buy the shares.

The prospectus remains the definitive document for the terms of the offer.

For Nigerians who have watched the Dangote Refinery transform the country’s fuel market, the IPO represents something new: ordinary investors can now potentially become shareholders in the business.

The bigger question is whether the shares will deliver the returns investors are hoping for once trading begins.

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