Dangote Refinery IPO- How to Buy Shares Through Sterling

For months, the Dangote Refinery IPO has been one of the biggest talking points in Nigeria’s investment space. Now, the wait is over.

The public offer is officially open, giving eligible investors an opportunity to own shares in Dangote Petroleum Refinery and Petrochemicals FZE, one of Africa’s most ambitious industrial projects.

The offer opened on 14 September 2026 and closes on 13 October 2026, with shares priced at ₦525 each. With a minimum subscription of 10 shares, investors can participate from ₦5,250, excluding applicable charges.

But what exactly are you buying, and how can you get started?

Let’s break it down.

What Is the Dangote Refinery IPO?

An Initial Public Offering (IPO) is when a company offers shares to the public, allowing eligible investors to acquire an ownership stake in the business.

In this case, Dangote Petroleum Refinery and Petrochemicals FZE is offering 4.1 billion shares at ₦525 per share, with the offer expected to raise approximately ₦2.15 trillion.

The funds will support the refinery’s expansion plans, including efforts to increase capacity and grow its operations.

For investors, this creates an opportunity to participate in the next phase of a business that has already made a significant mark on Nigeria’s industrial landscape.

However, buying shares is an investment decision, not a guarantee of returns. The value of your investment will depend on the company’s performance and other market factors.

Why Is the Offer Getting So Much Attention?

The refinery has been a major part of Nigeria’s economic story for years. Its scale, its role in the energy sector, and its expansion ambitions have made it a closely watched business.

Now, the public offer introduces a new dimension: eligible investors can seek to own a stake in the company.

Here are three things to understand about the offer.

1. You Can Start Small

You do not need millions of naira to participate.

At ₦525 per share, the minimum subscription of 10 shares costs ₦5,250 before applicable charges.

Here is what different subscription amounts would cost:

Number of Shares	Subscription Value
10 shares	₦5,250
100 shares	₦52,500
1,000 shares	₦525,000
10,000 shares	₦5,250,000

Your final payable amount may include applicable transaction charges.

2. You Are Buying an Ownership Stake

Shares represent an ownership interest in a company. By subscribing to the offer, eligible investors are seeking to become shareholders in Dangote Petroleum Refinery and Petrochemicals FZE.

That means your investment is tied to the company’s future performance, growth plans, and the broader market.

It is worth remembering that every investment carries risk, and past performance does not guarantee future returns.

3. You Can Subscribe Digitally

You do not necessarily need to visit a branch or complete a lengthy paper-based process.

Through Sterling’s digital channels, eligible investors can submit their applications using their phones or computers.

Whether you are investing personally, on behalf of a minor, or through a corporate account, there is a subscription route designed for your needs.

Why Subscribe Through Sterling?

A major investment opportunity should come with a straightforward way to participate.

Sterling provides access to the Dangote Refinery IPO through OneBank, Banca, and SterlingPro, giving individuals, small businesses, and corporate clients convenient channels to submit their applications.

The aim is simple: make the subscription process easier to navigate, from selecting your preferred number of shares to submitting your application.

Here is how to get started.

How to Buy Dangote Refinery Shares Through Sterling

1. OneBank App — For Individuals and Minors

If you are investing for yourself or applying on behalf of a minor, you can use the OneBank app.

What you need:

• Your Sterling account
• Transaction PIN
• Stockbroker details
• NIN of the minor, where applicable

How to subscribe:

1. Open the OneBank app and select the Dangote Shares banner on your dashboard.
2. Confirm your personal details and click Continue.
3. Select whether you are investing for yourself or a minor.
4. Enter the number of shares you want to subscribe for.
5. Enter your CHN, if available, and select your preferred stockbroker.
6. Select the account to debit and your preferred payout account for future dividends.
7. Review your application details and enter your PIN to submit.

2. Banca — For Personal and Small Business Accounts

Banca provides another digital route for eligible personal and small business account holders.

How to subscribe:

1. Open the Banca app and select the Dangote IPO banner.
2. Click Buy Shares.
3. Review your pre-filled profile details and select your preferred stockbroker.
4. Review your order and proceed with the application. If you do not have a CSCS account, one may be created through a partner broker during the process.
5. Authorise the transaction. For subscriptions above ₦5 million, enter your OneToken OTP where required.
6. Track your application under Purchase Details.

3. SterlingPro — For Corporate Entities

Corporate clients can submit their applications through the SterlingPro portal.

How to subscribe:

1. Log in to SterlingPro and select the Dangote IPO option.
2. Enter your company’s investor details, broker information, CHN, and CSCS details.
3. Enter your subscription amount and upload the required corporate documents.
4. Review and submit your application.
5. Track your application under Subscription History.

Before You Subscribe, Have These Ready

A smooth application starts with having the right information at hand.

• Know your allocation: Decide how many shares you want to subscribe for, starting from the 10-share minimum.
• Prepare your details: Have your account information, stockbroker details, and CHN, if available, ready.
• Choose your channel: Select OneBank, Banca, or SterlingPro based on your investor profile.
• Review before submitting: Confirm your details, subscription amount, and payment information.
• Watch the deadline: The offer closes on 13 October 2026.

Ready to Take Your Position?

The Dangote Refinery IPO is now open. If you are eligible and considering participating, you can learn more about the offer and access Sterling’s subscription channels below.

Click here to subscribe through Sterling →

Investment decisions should be made based on your financial goals, risk appetite, and a clear understanding of the offer terms.