Dangote Petroleum Refinery and Petrochemicals FZE has extended the application period for its initial public offering (IPO) by two weeks, giving eligible investors additional time to apply for shares in the company.

In a notice dated October 12, 2026, the refinery said the offer will now close on Tuesday, October 27, instead of the original deadline of October 13. The extension follows approval from Nigeria’s Securities and Exchange Commission (SEC).

The offer price remains ₦525 per share, while the minimum subscription is 10 shares, requiring an investment of ₦5,250 before any applicable charges.

The company said the extension would support its efforts to expand access to investors across African markets and allow prospective subscribers more time to complete account opening, identity verification and other regulatory requirements.

What has changed in the Dangote Refinery IPO?

The main change is the application deadline. The offer price and minimum subscription remain unchanged.

Here are the key details:

  • New closing date: Tuesday, October 27, 2026

  • Offer price: ₦525 per share

  • Minimum subscription: 10 shares

  • Minimum investment: ₦5,250, before applicable charges

  • Offer size: Up to 4.1 billion ordinary shares

  • Regulatory approval: The extension was approved by the SEC

The extension does not guarantee that every applicant will receive all the shares requested. Applications will be processed under the terms of the offer, and investors should consult the prospectus for details about allotment and refunds.

Why was the deadline extended?

According to the refinery’s official notice, the offer attracted strong interest from eligible investors across Africa and other jurisdictions.

The additional time is intended to support market-access initiatives, including expanded distribution channels and depositary receipt programmes designed to facilitate cross-border participation. It is also meant to give prospective investors more time to complete the administrative and regulatory steps required to apply.

The extension creates a longer application window, but it should not be interpreted as evidence that an investment will generate a particular return or that all applicants will receive their requested allocation.

How much do you need to apply?

At the stated price of ₦525 per share, the minimum application of 10 shares costs ₦5,250.

Applicants considering a larger subscription should calculate the total cost before applying and confirm whether their chosen approved platform charges additional fees.

Investors should also check the offer’s application rules, eligibility requirements and payment instructions. Completing an application does not itself guarantee that shares will be allotted.

What should investors consider before subscribing?

The opportunity to buy shares in a major industrial company does not remove the risks associated with investing in equities.

Before applying, prospective investors should:

Read the prospectus. Review the company’s financial information, the terms of the offer and the risk factors.

Understand the investment risk. Share prices can rise or fall after listing, and investors may receive less than they invested. Dividends are not guaranteed.

Use approved channels only. The SEC has advised investors to rely on officially designated receiving agents and subscription platforms. Verify links and platform details before providing personal or financial information.

Check the application requirements. Confirm identity-verification, account-opening and other requirements early enough to complete the process before the deadline.

Avoid rushing into a decision. The extended deadline gives investors more time to review the offer. It should be used to understand the investment rather than as a reason to subscribe without due diligence.

What happens next?

The revised timetable published by the refinery lists October 27 as the application closing date. Subsequent steps include collation of returns and regulatory review of the proposed basis of allotment. The dates for allotment and the commencement of trading remain subject to the offer timetable and any further adjustments.

Investors should monitor official announcements for updates instead of assuming that the offer closing date is also the date the shares will begin trading.

The extension gives eligible investors two additional weeks to consider the Dangote Refinery IPO and complete the steps needed to apply. The unchanged ₦525 share price and ₦5,250 minimum subscription make the basic cost of entry clear, but affordability alone does not determine whether an investment is suitable.

The important next step for prospective investors is to understand the offer, assess the risks and follow the official application process. The new deadline is October 27, but the decision to invest should depend on each person’s financial circumstances and assessment of the prospectus.