Dangote Refinery offer to boost FX earnings — CIS, ASHON

The Chartered Institute of Stockbrokers and the Association of Securities Dealing Houses of Nigeria have welcomed the initial public offering of Dangote Petroleum Refinery and Petrochemicals Free Zone Enterprise, describing it as a landmark development for Nigeria’s capital market.

The public offer is scheduled to open today, Monday, 14 September, 2026, at N525 per share, with a minimum subscription of 10 shares.

According to the market operators, the listing presents an opportunity for Nigerians to participate in the ownership of a strategically important national enterprise.

CIS and ASHON encouraged retail and institutional investors, particularly those with a long-term outlook, to participate through approved investment channels.

The two market bodies noted that the refinery’s integrated refining and petrochemicals model, its scale, and its role in domestic energy supply give the business strong strategic relevance to the economy.

They added that the enterprise has the potential to support import substitution, bolster foreign exchange earnings, drive industrial development, and deepen capital market participation.

CIS and ASHON also clarified that all stockbroking firms licensed by the Securities and Exchange Commission are accredited receiving agents for the offer, allowing investors to submit applications through their preferred brokers.

The President of CIS, Fiona Ahimie, stated that the listing would deepen wealth creation and strengthen public engagement in the capital market.

“The proposed listing is a welcome development for Nigeria and for our capital market. The refinery combines a strong integrated business model with the scale required to contribute meaningfully to the country’s energy security and industrial growth. Investors with a long-term outlook should consider being part of this opportunity,” Ahimie said.

She added that the nationwide network of licensed stockbrokers remains available to guide both existing and first-time investors through the Central Securities Clearing System account setup and application process.

Similarly, the Chairman of ASHON, Sehinde Adenagbe, noted that bringing an enterprise of such magnitude to the market broadens participation and adds depth to the nation’s financial system.

“Bringing an enterprise of this scale to the public market broadens participation, supports wealth creation, and adds depth to Nigeria’s investment landscape. The stockbroking community is ready to support a seamless process,” Adenagbe said.

The operators urged prospective investors to read the approved offer documents and participate at a level consistent with their financial capacity and long-term objectives.