Vetiva coordinates signing for ₦2.15 trn Dangote Refinery IPO

By InstinctBusiness Sep 9, 2026 0

Vetiva Advisory Services Limited has coordinated the signing ceremony for the proposed Dangote Petroleum Refinery and Petrochemicals FZE (DPRP) Initial Public Offering (IPO), marking a significant development for Nigeria’s capital market and the wider African financial ecosystem. As the Lead Issuing House, Vetiva is playing a key role in facilitating the transaction and preparing it for the investment market.

The proposed IPO comprises 4.1 billion ordinary shares priced at ₦525.00 per share, giving the offer an estimated value of approximately ₦2.15 trillion. The scale of the transaction positions it as a potentially transformative development for Nigeria’s capital market. With a minimum subscription of just 10 shares, the offering is also structured to encourage broad participation and promote financial inclusion among both retail and institutional investors.

Vetiva Advisory Services Limited also acknowledged the contributions of the Board and Management of DPRP, the Securities and Exchange Commission (SEC), Nigerian Exchange Limited (NGX), fellow issuing houses, legal advisers, stockbrokers, receiving banks, reporting accountants and other members of the transaction team. Their collective expertise, professionalism and commitment have helped move the transaction to this stage.

As the offer moves towards launch, Vetiva reaffirmed its commitment to delivering a transparent, accessible and world-class IPO process. The firm said it aims to promote investor confidence while contributing to the continued development and deepening of Nigeria’s and Africa’s capital markets.

Looking ahead, Vetiva expressed optimism about the next stage of the transaction and the opportunity to welcome a new generation of shareholders to DPRP. The proposed offering could represent an important milestone in Nigeria’s capital-market development by expanding public participation in one of the country’s major industrial assets.