<< Back             Poser >> Dangote Petroleum Refinery set for landmark IPO following SEC approval … Proposed 4.1bn share offer could raise approximately ₦2.15trn By Udeme Akpan The Securities and Exchange Commission (SEC) has approved the commencement of the Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE, paving the way for what could become one of the largest capital market transactions in Nigeria’s history. The approval was conveyed in a letter to the Lead Issuing House, Vetiva Advisory Services Limited, and signed by the Director of the Securities and Investment Services Department of the SEC, Abdulkadir Abbas. According to the Commission, the proposed offering comprises 4.1 billion ordinary shares at ₦525 per share, with the potential to raise approximately ₦2.15 trillion if fully subscribed. In addition, the SEC has registered the company’s existing 120.13 billion ordinary shares. The regulatory approval clears the refinery’s draft offer documents and authorises the company to proceed with its Completion Board Meeting and Signing Ceremony, marking a significant milestone in the IPO process. The SEC’s clearance represents another major step in the evolution of Dangote Petroleum Refinery, opening investment opportunities in one of Africa’s most strategic industrial assets and further strengthening Nigeria’s capital market. Located in Ibeju-Lekki, Lagos, the Dangote Refinery and Petrochemicals Complex occupies approximately 2,635 hectares and is home to a world-class integrated refining and petrochemicals facility. The complex currently has a refining capacity of 700,000 barrels per day, making it the largest single-train refinery in the world, alongside a 900,000 tonnes per annum polypropylene plant. The facility is powered by a dedicated 435-megawatt power plant. At full production, the refinery is designed to satisfy Nigeria’s domestic demand for refined petroleum products while generating substantial volumes for export markets. The facility is also undergoing expansion that is expected to increase capacity to 1.4 million barrels per day, positioning it to become the world’s largest refinery. The refinery is supported by extensive world-class infrastructure, including a self-sufficient marine facility designed to optimise logistics and freight efficiency. It also holds the world’s largest single order of five Single Point Moorings (SPMs) and incorporates advanced processing technology that meets World Bank, United States Environmental Protection Agency (EPA), European emission standards, and Nigerian regulatory requirements. Its integrated port infrastructure includes multiple quays capable of handling Panamax vessels, liquid cargo shipments, and roll-on/roll-off operations, while its storage network comprises 177 tanks with a combined capacity of 4.742 billion litres. With SEC approval now secured, the refinery is poised to embark on a historic public offering that could significantly broaden investor participation in one of Nigeria’s most transformative industrial ventures. Vanguard Business News	Nigeria’s trade surplus jumps 67% to N12.59trn in Q2’26 By Yinka Kolawole Nigeria’s merchandise trade surplus surged by 66.8 per cent quarter-on-quarter to N12.59 trillion in the second quarter of 2026, from N7.55 trillion recorded in Q1, as a sharp rise in exports widened the gap between the country’s earnings from exports and its import bill. In its foreign trade statistics report released yesterday, […] Maritime Reforms: Nigeria’s ports record 12.3% rise in cargo throughput By Emeka Anaeto The Nigerian Ports Authority (NPA), has reported significant growth in cargo throughput, vessel traffic, container movements, vehicle traffic among others in the second quarter of 2026, Q2’26, attributing the development to the various reforms the Federal Government introduced in the maritime sector. This was contained in the NPA Operational Performance Report for […] Foreign investors pull out N266bn from Nigeria in 3 yrs Foreign Portfolio Investment (FPI) net capital outflow from the Nigerian equities market widened by more than 1,073 per cent in three years, rising from N22.68 billion in the first seven months of 2023 to N266.07 billion by July 2026, as foreign investors took more money out of the market than they brought in. Nigeria’s reserves hit $54bn, highest in 18 years Nigeria’s external reserves have risen to $54.08 billion, reaching their highest level in nearly 18 years and moving further above the Central Bank of Nigeria’s (CBN) projection for the end of 2026. Latest CBN data showed that the reserves reached $54.08 billion on September 3, compared with $53.99 billion on September 2 and $53.90 billion […] Dangote Petroleum Refinery set for landmark IPO following SEC approval … Proposed 4.1bn share offer could raise approximately ₦2.15trnBy Udeme Akpan The Securities and Exchange Commission (SEC) has approved the commencement of the Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE, paving the way for what could become one of the largest capital market transactions in Nigeria’s history. The approval was conveyed […] PremiumTrust Bank gets dual credit rating upgrades By Henry Obetta PremiumTrust Bank has received dual credit rating upgrades from Agusto& Co. and DataPro Limited, underscoring its financial strength, sound risk management and growth trajectory. Agusto upgraded the Bank’s long-term rating from BBB+ to A- and short-term rating from A2 to A1, while DataPro upgraded its long-term rating from A- to A and […]