Dangote Refinery IPO: UBA Opens Subscription

United Bank for Africa (UBA) has opened its subscription channel for the Dangote Refinery Initial Public Offering (IPO), giving customers an opportunity to invest in one of Africa’s largest industrial projects. The Dangote Refinery IPO officially opened on Monday, September 14, with 4.1 billion shares offered at ₦525 per share. The Dangote Refinery IPO aims to raise about ₦2.15 trillion if fully subscribed. UBA is among the authorised channels through which eligible investors can subscribe to the offer, providing its customers with access to the investment opportunity as the IPO gets underway. UBA customers should follow the bank’s official subscription process and provide the required information when applying. Investors should also confirm the offer details and use authorised channels to avoid fraudulent platforms or unofficial payment requests.

How Nigerians Can Participate in Dangote Refinery IPO

The public offer has been structured to allow retail investors to participate, with a minimum subscription of 10 shares, costing ₦5,250. Investors can subscribe to the IPO until October 13, 2026, subject to the terms of the offer. Dangote Group has described the share sale as an opportunity to broaden participation in the ownership of the refinery and promote wealth creation among Nigerians. The refinery currently has a refining capacity of about 700,000 barrels per day. The company plans to expand its capacity in the coming years.

Investors Warned Against Fake Subscription Platforms

As interest in the Dangote Refinery IPO grows, regulators have advised investors to use only approved subscription channels. The Securities and Exchange Commission (SEC) warned investors against fraudulent platforms, unsolicited messages and individuals claiming to offer guaranteed allocations. The SEC urged investors to verify the authorised channels before making payments or submitting personal information. The IPO represents a major development for Nigeria’s capital market. UBA’s participation gives its customers another way to subscribe and potentially become shareholders in the Dangote Refinery.