{"id":10238,"date":"2026-09-15T07:51:10","date_gmt":"2026-09-15T07:51:10","guid":{"rendered":"https:\/\/ograsset.com\/?p=10238"},"modified":"2026-09-15T07:51:11","modified_gmt":"2026-09-15T07:51:11","slug":"dangote-refinery-ipo-my-take","status":"publish","type":"post","link":"https:\/\/ograsset.com\/index.php\/2026\/09\/15\/dangote-refinery-ipo-my-take\/","title":{"rendered":"Dangote Refinery IPO: My take"},"content":{"rendered":"\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"975\" height=\"550\" src=\"https:\/\/ograsset.com\/wp-content\/uploads\/2026\/09\/image-74.png\" alt=\"\" class=\"wp-image-10239\" srcset=\"https:\/\/ograsset.com\/wp-content\/uploads\/2026\/09\/image-74.png 975w, https:\/\/ograsset.com\/wp-content\/uploads\/2026\/09\/image-74-300x169.png 300w, https:\/\/ograsset.com\/wp-content\/uploads\/2026\/09\/image-74-768x433.png 768w\" sizes=\"auto, (max-width: 975px) 100vw, 975px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">The Dangote Refinery IPO is officially here, with the offer opening today, September 14, 2026.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Tagged&nbsp;<strong>\u201cThe IPO of the People,\u201d<\/strong>&nbsp;the shares are being offered at N<strong>525 per share<\/strong>&nbsp;through an offer for subscription. This is important because it means the money being raised is going directly into the company rather than to existing shareholders cashing out.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Dangote Petroleum Refinery &amp; Petrochemicals (DPRP) plans to raise about N<strong>2.1 trillion<\/strong>&nbsp;from the offer, with the proceeds forming part of the funding required to expand the refinery\u2019s capacity to about&nbsp;<strong>1.4 million barrels per day<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The expansion is expected to cost roughly&nbsp;<strong>$14.3 billion over five years<\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Also Read<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/nairametrics.com\/2026\/09\/14\/dangote-unveils-n2-15-trillion-ipo-says-offer-to-democratise-wealth-creation\/?utm_source=auto-read-also&amp;utm_medium=web\"><strong>Dangote unveils N2.15 trillion IPO, says offer to democratise wealth creation<\/strong><\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/nairametrics.com\/2026\/09\/14\/investors-pour-n1-5-trillion-into-dangote-refinerys-ipo-within-first-hour-of-trading\/?utm_source=auto-read-also&amp;utm_medium=web\"><strong>Investors pour N1.5 trillion into Dangote Refinery\u2019s IPO within first hour of trading<\/strong><\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/nairametrics.com\/2026\/09\/14\/dangote-refinery-sells-out-jet-fuel-supply-to-europe-reserves-nigeria-stock\/?utm_source=auto-read-also&amp;utm_medium=web\"><strong>Dangote Refinery sells out jet fuel supply to Europe, reserves Nigeria stock<\/strong><\/a><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">This means the IPO proceeds represent only about 15% of the estimated expansion cost, suggesting the company will have to fund a significant portion of the balance through debt, internally generated cash flows or other financing.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A lot has already been written about this IPO. There are reports, analyst notes, valuations and projections everywhere.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">So I won\u2019t add to the analysis paralysis.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">FTM has always been about clarity and brevity. I simply want to answer the questions I believe matter to an investor trying to decide what to do.<\/p>\n\n\n\n<figure class=\"wp-block-embed\"><div class=\"wp-block-embed__wrapper\">\nhttps:\/\/nairametrics.com\/2026\/09\/14\/dangote-refinery-ipo-my-take\n<\/div><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>The Dangote Refinery IPO is officially here, with the offer opening today, September 14, 2026. Tagged&nbsp;\u201cThe IPO of the People,\u201d&nbsp;the shares are being offered at N525 per share&nbsp;through an offer for subscription. This is important because it means the money being raised is going directly into the company rather than to existing shareholders cashing out&#8230;. <\/p>\n<div class=\"clear\"><\/div>\n<p><a href=\"https:\/\/ograsset.com\/index.php\/2026\/09\/15\/dangote-refinery-ipo-my-take\/\" class=\"excerpt-read-more\">Read More \u2192<\/a><\/p>\n","protected":false},"author":2,"featured_media":10239,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-10238","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fit-row"],"jetpack_featured_media_url":"https:\/\/ograsset.com\/wp-content\/uploads\/2026\/09\/image-74.png","_links":{"self":[{"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/posts\/10238","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/comments?post=10238"}],"version-history":[{"count":2,"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/posts\/10238\/revisions"}],"predecessor-version":[{"id":10241,"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/posts\/10238\/revisions\/10241"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/media\/10239"}],"wp:attachment":[{"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/media?parent=10238"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/categories?post=10238"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/tags?post=10238"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}