Dangote IPO opens to Namibians
Eligible investors in Namibia can now apply for shares in Nigerian industrialist Aliko Dangote's refinery through IJG Securities and Coronation Securities, with local applications closing on 2 October 2026.
The Dangote Petroleum Refinery and Petrochemicals IPO comprises 4.1 billion ordinary shares priced at ₦525 each, giving the offer a value of about ₦2.15 trillion.
The minimum subscription is 10 shares, costing ₦5,250.
Using an exchange rate of N$1 to ₦81.07, the minimum share purchase is equivalent to about N$64.75, or approximately N$65, before any applicable brokerage, currency-conversion or other charges.
Why it matters to Namibia
The IPO comes as Dangote is developing a wider fuel distribution network in Southern Africa, with Walvis Bay proposed as a storage and distribution point for refined petroleum products from the group's Nigerian refinery.
Dangote Industries Namibia has begun the environmental approval process for a proposed 1.6-million-barrel petroleum storage terminal at Walvis Bay.
The company has applied for environmental clearance to subdivide about 68 hectares of industrial land at Farm 58. The current application covers the subdivision of the land; construction of the petroleum storage facility would require a separate environmental impact assessment and approval.
The proposed terminal is intended to store refined petroleum products for distribution in Namibia and other Southern African markets.
Dangote has also outlined a more than 2,600km fuel pipeline network linking Namibia with regional markets. The broader proposal includes a route through Botswana towards South Africa and another through Zimbabwe and Zambia towards the Democratic Republic of Congo.
The network follows an earlier proposal for a pipeline of about 1,838km from Walvis Bay through Botswana to Bulawayo in Zimbabwe.
The Walvis Bay project therefore provides a Namibian connection to Dangote's broader refining and petroleum-distribution business.
About the refinery
The Dangote refinery is located in Lagos, Nigeria, and has a crude-processing capacity of about 700,000 barrels a day.
The facility was built over about 10 years at a reported cost of US$20 billion. It began operations in 2024 and reached full capacity in 2026, according to Reuters.
The refinery produces petroleum products including petrol and diesel, with production also supporting exports to markets outside Nigeria.
The IPO gives investors an opportunity to acquire shares in the company operating the refinery.
Applying from Namibia
The offer is available to eligible Namibian investors through IJG Securities and Coronation Securities.
At the stated offer price of ₦525 a share, the minimum 10-share application costs ₦5,250, equivalent to about N$65 at the exchange rate of N$1 to ₦81.07.
The N$65 figure is the value of the shares at the offer price and does not include any applicable transaction fees, brokerage or foreign-exchange conversion costs.
Namibian applications close on 2 October 2026.
For application information, investors can contact IJG Securities at [email protected] or Coronation Securities at [email protected].
The overall Dangote IPO opened on 14 September 2026 and is scheduled to close on 13 October 2026, according to Coronation's IPO information.
