Former Anambra State governor and 2027 presidential candidate of the Nigeria Democratic Congress, Peter Obi, has urged Nigerians at home and abroad to participate in the ongoing Initial Public Offering of Dangote Petroleum Refinery and Petrochemicals.
Obi made the call in a statement posted on his X account on Wednesday, September 16, 2026, saying Nigerians had sought his views on the ₦2.15 trillion offer.
He encouraged prospective investors to subscribe, while praising Aliko Dangote’s investment in Nigeria’s productive sector.
Obi said the refinery reflected the need to shift Nigeria’s economy from consumption towards production. He also urged other Nigerian businesses to invest in productive industries and offer citizens opportunities to acquire equity through public offerings.
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The Dangote Refinery IPO opened on Monday, September 14, 2026, with 4.1 billion new ordinary shares priced at ₦525 each. The minimum subscription is 10 shares, valued at ₦5,250.
The offer is scheduled to close on Tuesday, October 13, 2026, and is expected to raise about ₦2.15 trillion if fully subscribed. Eligible retail, institutional and African investors can participate, with the shares to be listed on the Nigerian Exchange.
Located in the Lekki Free Zone, Lagos, the refinery currently has a capacity of 700,000 barrels per day, with plans to double this to 1.4 million barrels per day.
The offer follows earlier efforts by major Nigerian companies to widen public ownership through the capital market. MTN Nigeria was listed in May 2019 and conducted a further public share offer in 2021.
The Dangote IPO similarly gives members of the public an opportunity to acquire equity in a major Nigerian industrial enterprise.