The 2027 presidential candidate of the Nigeria Democratic Congress, Peter Obi, has urged Nigerians at home and abroad to invest in the ongoing Initial Public Offering of the Dangote Petroleum Refinery and Petrochemicals.
Obi made the call in a statement posted on his X handle on Wednesday, saying he had been approached by Nigerians seeking his position on the N2.15tn public offer.
“In the course of my engagements with Nigerians at home and in the diaspora, many of them have sought my opinion on investing in the ongoing Dangote Petroleum Refinery Initial Public Offering,” Obi said.
“While encouraging them to buy, I must say that I remain very proud of the commitment and breakthrough of Alhaji Aliko Dangote’s investment in the real sector of our country’s economy, across different sectors.
“This validates my position that we should move Nigeria from consumption to production.”
The former Anambra State governor also called on other Nigerian businesses to channel investment into productive sectors of the economy while providing members of the public with opportunities to own stakes in companies through public offerings.
“I, therefore, encourage other Nigerian businesses to invest in the productive sectors of the Nigerian economy and also give fellow Nigerian citizens the opportunity to be part of the re-industrialization of the country by offering their shares to the public through public offerings,” he added.
The Dangote Refinery IPO opened on the Nigerian Exchange on Monday, September 14, 2026, with 4.1 billion new ordinary shares offered at N525 per share.
The offer has a minimum subscription of 10 shares, valued at N5,250, and is open to retail, institutional and eligible African investors. The subscription period is scheduled to end on October 13, 2026.
If fully subscribed, the offer is expected to raise about N2.15tn. The proceeds are intended to support the refinery’s expansion and other growth plans. Reuters reported that the refinery is currently operating at a capacity of about 700,000 barrels per day and plans to expand to 1.4 million barrels per day.
The public offering gives investors an opportunity to acquire shares in the refinery, located in the Lekki Free Zone in Lagos, following its transition from private ownership to a publicly accessible investment opportunity.
The IPO is being promoted as an avenue for broader participation in the ownership of the refinery, with investors required to subscribe through approved channels listed by the company and regulators.
