FZE is the Dangote oil refinery IPO that will be opened on September 14th 2026 and be closed on October 13th 2026. The expected NGX listing and trading will be late November 2026 but people will be able to buy the IPO. The offer price is ₦525 per share.
What do you think about the IPO?
This will be the largest IPO in Africa history.
This is definitely one to watch. The refinery has already shown strong earnings growth, and the IPO could give ordinary Nigerians a chance to own part of one of Africa’s biggest industrial assets.
But I wouldn’t buy simply because it’s “the biggest IPO in Africa.” At ₦525 per share, investors still need to look at the valuation, profitability, debt, expansion plans and long-term risks before putting their money in. Big IPO ≠ guaranteed profit.