Ojugbana Urges Nigerians to Approach Dangote IPO Responsibly

Businessman and elder statesman, Chief F.E. Ojugbana, has described the Dangote Petroleum Refinery Initial Public Offering, IPO, as an opportunity for Nigerians to participate in the country’s industrial development.

The IPO, which opened on September 14, offers 4.1 billion ordinary shares at N525 per share, with a minimum subscription of 10 shares.

Ojugbana urged prospective investors to approach the offer with financial discipline and invest only what they can afford.

He advised Nigerians to consider their financial circumstances and long-term objectives before investing, stressing that equities carry risks.

He also encouraged prospective investors to conduct due diligence and use officially designated channels when subscribing.

The Dangote Refinery has said the IPO is aimed at broadening ownership and raising capital to expand its refining capacity from 700,000 barrels per day to 1.4 million barrels per day.

The offer is scheduled to close on October 13, 2026, subject to the terms contained in the offer documents.