How to Buy Dangote Refinery Shares After the IPO Closed

The Dangote Refinery IPO closed on 27 October 2026, so you can no longer apply for shares at the ₦525 offer price. The next way to buy Dangote Refinery shares is on the Nigerian Exchange (NGX) once they list: through a licensed stockbroker or investment app, with a CSCS account and CHN in your own name, at the market price, which can be above or below ₦525. The listing date and ticker have not been announced yet. The company's revised timetable expects the allotment date on 17 November 2026 and trading about 15 business days later; these are expected dates, not confirmed ones.

Where Things Stand (5 November 2026)

• The offer closed on 27 October 2026, after an SEC-approved extension from 13 October. The official offer website, ipo.dangote.com, shows "Offer closed" and says applications are being checked.
• Shares Saver stopped taking new applications earlier, on 23 October 2026, because a new applicant could not finish the identity checks and CSCS account opening before the close. That was our channel closing, not the offer.
• Allotment, refunds, CSCS crediting, the NGX listing date and the ticker: not announced yet.
• Expected, not confirmed: basis of allotment to the SEC on 10 November 2026, SEC no-objection (the allotment date) on 17 November 2026, and CSCS crediting and the start of NGX trading 15 business days after allotment.

Sources: the official offer website, ipo.dangote.com (checked 5 November 2026); the company announcement of 12 October 2026, approved by the SEC, and its revised timetable as reported. Dates after the close are expected dates and can change.

The Offer That Closed

• Issuer: Dangote Petroleum Refinery & Petrochemicals FZE
• Offer price: ₦525 per share. This is the IPO price, not a market price.
• Opened 14 September 2026; closed 27 October 2026 after an SEC-approved extension announced on 12 October 2026
• Minimum application: 10 shares (₦5,250), then multiples of 10
• Shares on offer: 4.1 billion ordinary shares, about ₦2.15 trillion in total
• Listing: Main Board of the Nigerian Exchange (NGX), date not yet announced

What You Need to Buy After Listing

• A Bank Verification Number (BVN)
• A National Identification Number (NIN)
• A Nigerian bank account in your name, to pay from and to receive sale proceeds and dividends
• A CSCS account and Clearing House Number (CHN), which hold your shares in your name. A licensed stockbroker opens them for you if you do not have them

If you already hold Nigerian shares, you may already have a CSCS account and a CHN. Your broker will tell you whether it can be used.

Step 1: Open a Broker Account and a CSCS Account

Shares listed on the NGX are bought through stockbrokers licensed by the SEC and the NGX, or through investment apps that place orders with one. Identity checks and CSCS account opening take time, so they do not depend on the listing date. Shares Saver works with Crown Capital Limited, a trading licence holder of the Nigerian Exchange.

Step 2: Wait for the NGX Listing Notice

The exchange publishes a notice with the listing date, the ticker symbol and the price at which trading starts. None of these has been announced yet. The revised timetable expects trading 15 business days after the allotment date, which is expected on 17 November 2026; that can move. Until the notice is out, any date you see is an expected date or a guess.

Step 3: Place an Order at the Market Price

Once trading starts, the ₦525 offer price no longer applies. Buyers and sellers set the price, which can be above or below ₦525, and an order is filled only if there is a matching seller at your price. Brokerage commission and statutory fees apply to exchange trades. Trades settle on T+1, one business day after the trade.

If You Applied in the IPO

Your application now goes through allotment. If valid applications exceed the shares on offer, applicants receive fewer shares and the money for the rest is refunded. The issuer's website tells applicants to contact the bank, app or broker they applied through for updates. If you applied through Shares Saver, your order is under My Shares and shows as pending until the shares are allotted. Our guide to allotment and refunds explains each step.

Buying from Outside Nigeria

Nigerians living abroad can buy through a Nigerian broker if they have a full BVN and a Nigerian bank account. A Non-Resident BVN cannot be used to buy shares in your own name for now, so if you have ever held a Nigerian bank account, ask that bank to confirm your BVN.

How to Avoid Scams

• The public offer closed on 27 October 2026. Anyone now selling "pre-IPO", "late application", "allotment" or discounted Dangote Refinery shares to the public is a red flag.
• Before listing there is no exchange market for the shares. After listing, buy only through a licensed stockbroker or a regulated platform that uses one.
• Ignore anyone promising a certain allotment, certain returns or a share price after listing.
• Check that a broker is registered on the SEC Nigeria and NGX websites before you pay.

Frequently Asked Questions

Is the Dangote Refinery IPO still open?

No. The offer closed on 27 October 2026, after an SEC-approved extension from 13 October, and the official offer website shows it as closed. New applications are not accepted. The next way to buy is on the NGX once the shares list.

When will Dangote Refinery shares start trading on the NGX?

Not announced yet. The revised timetable expects CSCS crediting and the start of trading 15 business days after the allotment date, which is expected on 17 November 2026. These are expected dates; the NGX listing notice confirms the trading date.

How much was one Dangote Refinery share in the IPO?

The offer price was ₦525 per share, with a minimum application of 10 shares (₦5,250). After listing, the price is set by the market and can be above or below ₦525.

Where can I buy Dangote Refinery shares now?

Nowhere yet through a regulated market: the offer is closed and the shares have not listed. After listing, through any NGX stockbroker or a regulated investment platform that uses one.

What documents do I need to buy Dangote Refinery shares?

Your BVN, your NIN, a Nigerian bank account and a CSCS account. A licensed stockbroker can open the CSCS account for you.

Can I buy from outside Nigeria?

Yes, if you are a Nigerian citizen with a full BVN and a Nigerian bank account, through a Nigerian broker once the shares list. A Non-Resident BVN cannot be used to buy shares in your own name for now.

I applied. Will I get all the shares I applied for?

Not necessarily. If valid applications exceed the shares on offer, allotments are scaled back and the difference is refunded. The allotment result has not been announced yet.