Aliko Dangote, Chief Executive Officer of the Dangote Group, has announced that the minimum subscription for the Dangote Petroleum Refinery and Petrochemicals FZE proposed initial public offering is 10 ordinary shares, equivalent to N5,250. According to Ripples Nigeria, Dangote disclosed this in Lagos on Monday during a signing ceremony, putting the refinery on course to launch a $1.6 billion public offering.

Dangote Refinery has set a price of ₦525 per share for its planned initial public offering, according to Channels TV. The company is offering 4.1 billion ordinary shares and seeking to raise about ₦2.2tn, described as a $1.6bn IPO, from investors. The provided report gives no timetable, listing venue, or allocation details beyond the share count, price and fundraising target.

Dangote Refinery has set a minimum subscription threshold for its planned $1.6 billion initial public offering, according to Premium Times Nigeria. Aliko Dangote, Africa's richest man and owner of the 700,000 barrel-per-day plant, led the sign-off ceremony in Lagos on Monday. The IPO marks a major step toward listing the refinery, one of the largest single-train refining facilities in the world, on the public market.

Dangote Petroleum Refinery and Petrochemicals FZE is planning to raise up to $2 billion in what is set to be Africa's largest initial public offering, generating significant investor interest across Nigeria. This move has attracted attention from various sectors, including a notable tycoon and a security guard, highlighting the widespread enthusiasm for the IPO.

On June 24, 2026, the Nigerian equities market experienced its largest single-day decline of the year, with a loss of N3.64 trillion in investor wealth. This drop was primarily driven by profit-taking in major cement and power stocks, including BUA Cement, Dangote Cement, and Geregu, which overshadowed the previous days' buying momentum and halted the market's recovery efforts.

TotalEnergies Marketing Nigeria Plc announced it will not pay a dividend for the financial year ending December 31, 2025, due to significant challenges in the downstream petroleum industry. The company reported a loss after tax of N13.853 billion, a reversal from a profit of N27.496 billion in the previous year, attributed to the ongoing petrol price war.