By Samuel Akpan
Aliko Dangote has opened share ownership in Africa’s largest private refinery to all employees, announcing that staff from drivers and cooks to managers can now buy a stake in the business.
Speaking Monday at the IPO signing ceremony in Lagos, the Dangote Group Chief Executive revealed that the upcoming initial public offering (IPO) for Dangote Petroleum Refinery and Petrochemicals FZE will allow investments starting at a minimum threshold of just 10 ordinary shares.
“That minimum ticket is valued at N5,250.This is an opportunity for our drivers, cooks, managers and other to have a stake in the Dangote refinery,” Dangote told the gathering, casting the float as a chance for staff across the company to become owners.
The landmark offer aims to raise about $1.6 billion by issuing 4.1 billion ordinary shares at N525 each, ahead of a primary listing on the Nigerian Exchange, NSE.
The sale will let investors buy into the refinery and petrochemicals business, one of Nigeria’s largest industrial investments and a flagship private energy project.
He said the issue gives Nigerians and institutional investors a path to own part of one of Africa’s largest industrial assets.
Full uptake of the 4.1 billion shares could mobilise about N2.15 trillion.
Dangote framed the low entry point as deliberate, arguing ordinary workers should sit beside big institutions on the register of a plant built as a national industrial bet.
“In this IPO, we intend to raise just a bit more than N2 trillion, which I’m sure is too small, at an offer price of N525 naira, with a minimum subscription of only 10 shares to fund our expansion of the refinery,” he said.
Dangote explained that the offering was designed so that subscribers could build future savings through equity in the refinery, describing the deal as an IPO for the people rather than a closed club of wealthy buyers.
Persecondnews reports that an IPO subscription is the process of applying to buy new shares before they start trading on the exchange. You are not buying from another investor.
You are applying to the company (through approved channels) during a fixed window. After the window closes, the company allots shares, refunds unused money, credits successful allotments to CSCS, then lists the stock.
Using the Dangote Refinery offer as the example: price is N525 a share, minimum is 10 shares (N5,250), and 4.1 billion shares are on offer.
1. What has to be in place first
You generally need:
• A CSCS account — Nigeria’s electronic share register. This is where allotted shares will sit.
• A CHN (Clearing House Number) — the ID that links you to that CSCS account.
• A licensed stockbroker or SEC-regulated investment app. Shares are credited through a broker.
• BVN and a bank account in your name — for KYC, payment, and refunds.
• Enough cash before the offer closes. Application money is taken upfront, not after allotment.
If you already trade NGX stocks, you likely have CSCS/CHN. If not, a broker or platform such as NGX Invest (invest.ngxgroup.com) opens them during onboarding.
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