The Securities and Exchange Commission (SEC) has officially approved the Initial Public Offering (IPO) for Dangote Petroleum Refinery and Petrochemicals FZE, marking a significant step forward for one of Nigeria's largest industrial projects. The company plans to offer 4.1 billion ordinary shares priced at ₦525 each, with the potential to raise approximately ₦2.15 trillion if fully subscribed.

This development follows a recent announcement by Aliko Dangote, the refinery's owner, indicating that the IPO would open within the next 10 to 12 days. With the SEC's approval now in place, the company can move forward with the next stages of the offering process, which includes a Completion Board Meeting and Signing Ceremony.

The SEC's approval also includes the registration of the refinery’s existing 120.13 billion ordinary shares, further solidifying the company's position in the market. This IPO is expected to provide investors with a unique opportunity to acquire shares in the refinery, which is poised to become a publicly traded entity.

Located in Ibeju-Lekki, Lagos, the Dangote refinery currently boasts a capacity of 700,000 barrels per day. Plans are underway for an expansion that aims to double its capacity to 1.4 million barrels per day. The facility is backed by extensive world-class infrastructure, including a self-sufficient marine facility designed to enhance logistics and freight efficiency. Notably, it holds the world’s largest single order of five Single Point Moorings (SPMs) and employs advanced processing technology that adheres to international standards set by the World Bank, the United States Environmental Protection Agency (EPA), and European emission regulations.

Additionally, the refinery's integrated port infrastructure features multiple quays capable of accommodating Panamax vessels, liquid cargo shipments, and roll-on/roll-off operations. Its storage network consists of 177 tanks with a combined capacity of 4.742 billion litres.

Dangote has emphasized that the IPO is part of broader efforts to attract investment into the refinery, which is anticipated to be one of the largest capital market transactions in Nigeria's history. As the IPO approaches, stakeholders and potential investors are keenly watching the developments surrounding this landmark offering.