The Securities and Exchange Commission has approved the Initial Public Offering of the Dangote Petroleum Refinery. The offering, scheduled to open on September 14, 2026, involves the sale of 4.1 billion ordinary shares at N525 each, targeting to raise approximately N2.15 trillion. This listing, which includes a 15 percent over-allotment option, is set to be the largest in Nigerian history. Proceeds will fund the refinery’s expansion to increase capacity from 650,000 to 1.4 million barrels per day. Aliko Dangote has stated the offer will be open to investors across Africa, with dividends to be paid in dollars. The massive listing is expected to significantly increase the Nigerian Exchange’s market capitalization and reshape its sector weighting.