President and Chief Executive Officer of Dangote Industries Limited, Aliko Dangote, has declared that Nigerians from all walks of life will have the opportunity to own stakes in the Dangote Petroleum Refinery through its Initial Public Offering.

Dangote made the statement on Monday during the official signing ceremony for the refinery’s IPO in Lagos.

“What we are trying to achieve is to make sure our drivers, cooks, servants, and everybody have the opportunity of having stakes in the refinery,” Dangote said.

SEE ALSO: Dangote Reveals Date for Much-Awaited Refinery IPO

The IPO will see the refinery offer 4.1 billion ordinary shares at ₦525 per share, giving investors an opportunity to become shareholders in one of Africa’s biggest industrial projects.

The official application list is scheduled to open on September 14, 2026, and will close on October 9, 2026, after 25 days.

Investors can subscribe to a minimum of 100 shares valued at ₦52,500, with subsequent subscriptions available in multiples of 50 shares.

The landmark signing ceremony was attended by prominent figures in Nigeria’s business and financial sectors, including Zenith Bank Chairman, Jim Ovia, and Heirs Holdings Chairman, Tony Elumelu.

Located in the Lekki Free Zone, Lagos, the Dangote Refinery has a refining capacity of 650,000 barrels per day, making it Africa’s largest single-train refinery.

The refinery, which was commissioned in May 2023 after nearly a decade of construction, attracted an investment of approximately $20 billion.

According to details of the IPO, proceeds from the public offer will be used to support a major expansion of the facility, with the company targeting an increase in processing capacity to 1.4 million barrels per day.

If achieved, the expansion would make the facility the largest operating oil refinery in the world, surpassing India’s Jamnagar refinery complex.

At ₦525 per share, the refinery has an estimated market valuation of about $47 billion, while a fully subscribed IPO could increase the total market capitalisation of the Nigerian Exchange by an estimated 30 to 40 per cent.

The company has also proposed paying dividends in US dollars, with foreign exchange earnings from refined petroleum products and petrochemical exports expected to support the dividend plan.

The public offering follows a $2.5 billion private placement completed in July as Dangote Industries seeks to raise additional capital for the refinery’s expansion.

The Nigeria Security and Civil Defence Corps has deployed Toma Enya as the new Commandant of the Osun State Command.

Enya’s deployment was approved by the NSCDC Commandant-General, Prof. Ahmed Audi, according to a statement issued by the Corps’ spokesperson, Kehinde Adeleke, on Monday in Osogbo.

The new commandant, who was transferred from the Ekiti State Command, officially assumed office on Monday, taking over from Commandant Igbalawole Sotiyo.

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Following the handing-over ceremony at the command headquarters, Sotiyo led Enya to the Government Office in Abere, where they were received on behalf of Osun State Governor, Ademola Adeleke, by the Deputy Governor, Kola Adewusi.

Speaking during the visit, Enya pledged to strengthen intelligence gathering and information sharing under his leadership.

He also assured that the command would remain committed to ensuring adequate protection of lives and property across the state.

Adewusi welcomed the new commandant to Osun and assured him of the state government’s support to enable the NSCDC to effectively discharge its statutory mandates and contribute to the security and development of the state.

Enya becomes the 18th NSCDC commandant in Osun State.

He hails from Ajaokuta Local Government Area of Kogi State and holds a Bachelor of Science degree in Geology from Ahmadu Bello University, Zaria, as well as a Master’s degree in Public Administration from Ladoke Akintola University of Technology, Ogbomoso, Oyo State.

Enya has served the Corps in various operational, investigative and administrative capacities, gaining extensive experience in security operations and management.

The NSCDC said he has also attended several professional courses within and outside Nigeria, further enhancing his expertise in security architecture, leadership and administration.

The Federal Government is committed to completing the the Oloibiri Museum and Research Centre (OMRC) by 2028.

Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, made the disclosure during an inspection of the project in Otuabagi, Ogbia Local Government Area of Bayelsa State.

Lokpobiri expressed pleasure with the pace of construction, adding that the facility would preserve the history of Nigeria’s petroleum industry while serving as a major centre for research, tourism and industry events.

“I am very happy that I came today to see what is going on here. This is a masterpiece. The main building itself is over 10,000 square metres,” the minister said, noting that the museum and research centre would provide Nigerians and international visitors with a better understanding of the origins and evolution of the nation’s oil and gas industry, including its achievements, challenges and prospects.

The facility, he further said, will also create opportunities for conferences, exhibitions, retreats and research activities in the petroleum sector, even as he praised the quality of the work done so far and Julius Berger’s pace of work at the site.

READ ALSO: Dangote Reveals Date for Much-Awaited Refinery IPO

The minister also emphasised that the Federal Government will continue to give financial support to the project to ensure seamless execution while pledging to maintain close oversight of the project through regular visits, including unscheduled inspections, and praised Julius Berger for the quality of work completed so far, just as he appealed to the host community to sustain their cooperation with the contractors and other stakeholders to guarantee the successful delivery of the project.

Speaking on behalf of the contractor, the Project Manager, Engr. Botha de Bruyn, reaffirmed the company’s commitment to delivering the project in line with approved specifications and timelines.

He said Julius Berger recognised the historical significance of the facility and would continue to work closely with the Federal Government, the project management team and the host community to ensure its successful completion.

De Bruyn also reiterated the company’s commitment to maintaining the highest standards of quality, safety and professionalism throughout the construction process.

Providing an update on the development, the Project Director of the Oloibiri Museum and Research Centre, Architect Ladipo Lewis, said the project was conceived to recognise Otuabagi as the birthplace of Nigeria’s petroleum industry.

He explained that the facility would document and preserve the history, culture, environment and technological evolution of the oil and gas sector, while also serving as a hub for research, training and knowledge sharing.

Lewis disclosed that the project had attained over 15 per cent completion, with significant infrastructure works already executed.