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The much-anticipated Initial Public Offering (IPO) of Dangote Petroleum Refinery & Petrochemicals FZE (DPRP) opened Monday, with FirstBank providing multiple channels through which customers and other eligible investors can subscribe to the offer.
FirstBank, which is acting as a Receiving Bank for the offer, said investors could subscribe through its digital platforms, branches and FirstMonie agent network.
The offer comprises 4.1 billion ordinary shares priced at N525 per share, giving investors an opportunity to acquire stakes in one of Nigeria’s biggest industrial projects.
The minimum subscription is 10 shares, costing N5,250, with additional subscriptions to be made in multiples of 10 shares.
The offer opened on September 14, 2026 and will close on October 13, 2026. Payment is required in full upon application.
Eligible retail investors may also receive bonus shares, subject to the terms and conditions contained in the offer prospectus.
FirstBank said the proceeds of the offer are intended to support the expansion of refinery operations, while the shares are expected to be listed on the Main Board of the Nigerian Exchange Limited (NGX).
Investors banking with FirstBank can subscribe through FirstMobile, FirstOnline, LIT App, PayByLink, FirstDirect for corporate customers, FirstMonie agents and any FirstBank branch nationwide.
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The bank said the multiple channels were designed to make participation in the IPO easier for retail and institutional investors across the country.
The Dangote Refinery, located in Lagos, is regarded as one of Africa’s largest industrial investments and is expected to play a major role in Nigeria’s drive to expand domestic refining capacity and reduce dependence on imported petroleum products.
FirstBank said the IPO provides Nigerians with an opportunity to participate in the future growth of the refinery and potentially benefit from its expansion.
The bank added that its extensive branch network and digital banking platforms would help widen access to the investment opportunity and promote financial inclusion.
However, FirstBank stressed that it is acting solely as a Receiving Bank for the offer and does not provide investment advice.
It advised prospective investors to carefully read the prospectus and seek independent professional advice before deciding whether to invest.
The 30-day offer will run until October 13, after which the shares are expected to proceed towards listing on the NGX Main Board, subject to the applicable regulatory and offer processes.
