Dangote Refinery IPO Attracts Investors Ahead Of Tuesday’s Closing Deadline

Dangote Petroleum Refinery has recorded a surge in investor subscriptions as its Initial Public Offering (IPO) approaches its closing date on October 27, 2026.

The company confirmed that the offer would close as scheduled, with no further extension, urging interested investors to complete their subscriptions before the deadline.

The increased interest follows the release of the refinery’s nine-month financial results, which showed revenue of $22.5 billion and a net profit of $4.73 billion for the period ended September 30, 2026.

Revenue rose by 144 per cent year-on-year, while earnings before interest, taxes, depreciation and amortisation (EBITDA) reached $5.5 billion. The company also moved from a net debt position to a net cash position.

Management attributed the growing investor interest to the refinery’s financial performance and its role in Africa’s energy security and industrial development.

The company said subscriptions had come from individuals, institutional investors and other investors across Nigeria, Africa and international markets, describing the IPO as an opportunity to own a stake in one of the continent’s major industrial projects.

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