Nigerians seeking to own a stake in the Dangote Petroleum Refinery will be able to subscribe for the shares through a wide range of approved banks, fintech platforms, mobile-money operators and NGX Invest, rather than dealing with agents or individuals.
The official Dangote Petroleum Refinery IPO website has published the approved subscription channels and warned prospective investors not to use any platform that is not on the official list.
The public offer is priced at ₦525 per share, with a minimum subscription of 10 shares, costing ₦5,250. The official website currently states that the offer dates are still to be confirmed, although recent reports indicate the offer is expected to open on September 14.
Banks approved for Dangote Refinery shares
Investors can use the following banks:
- Access Bank
- Ecobank
- FCMB
- Fidelity Bank
- FirstBank
- Globus Bank
- GTCO
- Jaiz Bank
- Keystone Bank
- Lotus Bank
- PremiumTrust Bank
- Providus Bank
- Stanbic IBTC
- Sterling Bank
- TAJ Bank
- UBA
- Union Bank
- Wema Bank
- Zenith Bank
Fintech platforms
The approved fintech channels include:
Bamboo
Flutterwave
InvestNaija
Ladder
Moniepoint
Paga
Payaza
PiggyVest
Vetiva Invest
we.yan
Other approved channels
Investors can also subscribe through:
Airtel SmartCash
MTN MoMo
NGX Invest
The Dangote IPO website says these are the Preferred Approved Subscription Channels and advises investors to check the official list before proceeding.
How much do you need to start?
At the stated price of ₦525 per share, an investor can start with just 10 shares for ₦5,250.
For example:
10 shares = ₦5,250
20 shares = ₦10,500
50 shares = ₦26,250
100 shares = ₦52,500
1,000 shares = ₦525,000
However, applying for shares does not automatically guarantee that an investor will receive the full number applied for. Allotment will be determined under the terms of the public offer.
How to avoid Dangote IPO scams
With strong public interest expected, prospective investors have been warned to be particularly careful.
The official IPO website says no legitimate channel will ask for an investor’s PIN, password or OTP. It also warns investors never to pay subscription money into a personal bank account or an individual’s mobile wallet.
Investors should therefore:
Use only an approved channel listed on the official IPO website.
Never give anyone their ATM PIN, password or OTP.
Never transfer IPO money to an individual’s personal account.
Be suspicious of unsolicited WhatsApp messages, calls and social-media offers.
Confirm the channel before making payment.
The official website also makes clear that the IPO website itself does not process subscriptions; subscriptions, payment and allotment are handled through the approved channels and relevant market institutions.
Why the IPO is attracting attention
The Dangote Refinery IPO is expected to be one of Africa’s biggest-ever public share offerings. The company plans to sell 4.1 billion shares at ₦525 each, potentially raising about ₦2.15 trillion. The refinery is also planning a major expansion that would increase capacity to about 1.4 million barrels per day.
Bottom line: Nigerians interested in buying Dangote Refinery shares should wait for the official opening and subscribe only through the approved channels. Do not hand money to agents claiming they can secure shares for you.
Check Dangote’s official approved subscription channels](https://ipo.dangote.com/channels
Check how to subscribe and current IPO status](https://ipo.dangote.com/subscribe