Nume Ekeghe
The opening of the Dangote Refinery public offer is giving retail investors another avenue to participate in the ownership of one of Africa’s largest industrial assets, with digital investment platform i-invest providing access to the offer through its app.
The public offer of Dangote Petroleum Refinery and Petrochemicals FZE opened on September 14, 2026, with 4.1 billion ordinary shares being offered at N525 per share. If fully subscribed, the offer is expected to raise about N2.15 trillion.
For retail investors, the minimum subscription is 10 shares, requiring an investment of N5,250. Subsequent applications are to be made in multiples of 10 shares.
The structure of the offer, alongside the availability of digital subscription channels, could broaden participation in what is expected to be one of Nigeria’s most closely watched equity offerings.
i-invest, powered by Parthian, allows eligible investors to access the Dangote Refinery offer alongside other investment products available on the platform, including fixed-income investments, savings and equities.
Rather than relying solely on conventional subscription processes, investors using the platform can complete their application digitally after meeting the required account and regulatory conditions.
To participate, investors need to have their i-invest account and Know Your Customer details completed, including their BVN and other required information.
A Central Securities Clearing System account is also required for the electronic holding of shares. For eligible customers, i-invest provides a CSCS account through the platform, subject to approval.
Once the account is ready and funded, investors can access the Dangote Refinery offer, select the number of shares they wish to purchase, review the subscription details and submit their application.
At the offer price of N525, the 10-share minimum translates to N5,250, providing a relatively low entry point for individuals seeking exposure to the company.
The digital access comes as retail participation in Nigeria’s capital market continues to evolve, with investment platforms increasingly providing individuals with ways to access securities without depending entirely on traditional physical processes.
However, the ease of subscribing does not remove the investment risks associated with the offer.
The Dangote Refinery offer is an equity investment and the value of the shares may rise or fall after listing. Dividends are not guaranteed, while investors could lose part or all of their investment.
Investors are therefore expected to study the prospectus and other offer documents before making a decision. Those requiring additional guidance can also consult their stockbroker or financial adviser.
The offer is scheduled to close on October 13, 2026, subject to the applicable terms of the offer.
For retail investors considering the Dangote Refinery offer, i-invest’s digital channel provides an additional means of accessing the subscription, as the capital market seeks to widen participation beyond traditional investment channels.
