Dangote Refinery Extends IPO Deadline as Investor Interest Surges

According to Daily Post Nigeria, published on October 12, 2026, Dangote Refinery has extended its share offer deadline to October 27, allowing prospective investors an additional two weeks to apply for shares in the company.

The decision followed approval from the Securities and Exchange Commission (SEC) and comes as the refinery seeks to expand participation in its initial public offering (IPO), particularly among investors across Africa.

The offer opened on September 14 and was originally scheduled to close on October 13. Under the offer, Dangote Petroleum Refinery and Petrochemicals FZE is selling 4.1 billion ordinary shares at ₦525 each.

Aliko Dangote, President of the Dangote Group, said the extension was intended to give more people an opportunity to become investors rather than help the company raise additional funds.

Speaking about the offer, Dangote disclosed that subscriptions had already exceeded the company’s original fundraising target several times over. He explained that widening access to the share sale was now a major priority.

The company is also working to make participation easier for eligible investors in other African countries. Its plans include expanding distribution channels and introducing depositary receipt programmes to support cross-border investment.

These arrangements are expected to help prospective investors access the offer while providing additional time to complete account registration, identity verification and other necessary regulatory procedures.

David Bird, Managing Director and Chief Executive Officer of Dangote Petroleum Refinery and Petrochemicals FZE, also welcomed the extension.

He said the additional time would help more investors across Africa participate in the IPO and share in the company’s future growth.

The extension places greater emphasis on expanding access to the share offer beyond Nigeria. However, prospective investors should understand that participation is subject to the offer’s terms and applicable regulatory requirements.

With the revised deadline now set for October 27, eligible applicants have another two weeks to complete their applications.

Investors are advised to read the official prospectus carefully and use only approved subscription channels. Buying shares carries investment risks, and participation does not guarantee a profit.