Yemisi Izuora
The Dangote Petroleum Refinery has taken another major step towards deepening retail participation in its ongoing Initial Public Offering (IPO) by enabling prospective investors to subscribe for shares through participating Moniepoint Point-of-Sale (POS) agents across the country.
The initiative is designed to bring share ownership closer to millions of Nigerians, particularly those in communities where agency banking has become a primary channel for accessing financial services.
Under the arrangement, interested investors can visit participating Moniepoint agents at any time to complete their subscription to the Dangote Petroleum Refinery IPO through the approved process. The development significantly expands access to the offer and aligns with the company’s vision of creating one of the broadest shareholder bases in Africa.
The refinery’s shares are being offered at N525 per share, with a minimum subscription of 10 shares, representing an entry investment of N5,250. Investors are also permitted to subscribe multiple times throughout the offer period, enabling them to progressively build their holdings.
Speaking on the development, the company stated that the introduction of the Moniepoint agency network represents another deliberate effort to democratize investment opportunities and ensure that more Nigerians can participate in the ownership of one of Africa’s most strategic industrial assets.
“One of the key objectives of this public offer is to broaden participation and make share ownership accessible to ordinary Nigerians. By leveraging the extensive Moniepoint agent network, we are bringing the opportunity to invest in the Dangote Refinery closer to the people, wherever they may be.”
The company noted that agency banking has transformed financial inclusion in Nigeria by extending financial services to underserved communities and reducing barriers to access. The same infrastructure is now being deployed to help more Nigerians participate in the capital market.
According to the company, the move reinforces its long-term aspiration of building a wide and diversified shareholder community, with millions of Nigerians having a direct stake in the growth and success of the refinery.
Prospective subscribers using Moniepoint agents are required to complete their transactions through the approved subscription process and retain their receipts as evidence of payment. Investors will also receive confirmation of their subscriptions through SMS notifications linked to their registered telephone numbers.
The company advised intending investors to carefully review the Prospectus and seek professional advice from licensed stockbrokers or financial advisers before making investment decisions. Details of approved subscription channels, as well as the Prospectus, are available on the IPO portal.
With round-the-clock access through participating Moniepoint agents and a minimum entry investment of just N5,250, the Dangote Petroleum Refinery IPO is opening the door for millions of Nigerians to become part owners of one of the largest industrial investments on the African continent.