Dangote Petroleum Refinery & Petrochemicals FZE today announced the commencement of its Initial Public Offering (IPO), marking a historic milestone in Nigeria’s economic development and the evolution of Africa’s capital markets. The offer will be formally launched at a ceremony on the trading floor of the Nigerian Exchange (NGX) in Lagos, bringing to the public, for the first time, an opportunity to own a stake in Africa’s largest refinery and one of the world’s most significant industrial projects.

The IPO, which opens today, September 14, 2026, consists of 4.1 billion new ordinary shares offered at N525 per share, with a minimum subscription of 10 shares valued at N5,250. The offer is expected to remain open until October 13, 2026, subject to the terms outlined in the Prospectus. The transaction is targeted at retail, institutional, and eligible African investors, reinforcing Dangote Refinery’s commitment to broadening ownership and deepening participation in Nigeria’s capital market.

The public offer is expected to raise approximately N2.15 trillion, making it one of the largest equity offerings ever undertaken in Africa. The proceeds will support the Refinery’s long-term growth plans, operational expansion, strategic investments, and the creation of additional value for shareholders and stakeholders alike.

Speaking on the significance of the IPO, President and Chief Executive of Dangote Industries Limited, Aliko Dangote, said: “Today marks the beginning of a new chapter in the history of Dangote Refinery and, indeed, in the economic future of our nation. This offering is about more than raising capital; it is about creating an opportunity for ordinary Nigerians, Africans, and investors across the globe to participate directly in one of the most transformative industrial projects ever built on the continent. We established this refinery to transform Africa’s energy landscape, create jobs, conserve foreign exchange, and unlock shared prosperity. With this IPO, we are extending that vision by democratising ownership and ensuring that millions of people can benefit from the value being created.

“We believe that broad-based ownership is one of the most effective ways to build wealth, strengthen the capital market, and accelerate economic inclusion. We invite investors to join us as partners in building a globally competitive enterprise that will continue to shape the future of energy, manufacturing, and economic development in Africa.”

According to Temi Popoola, Group Managing Director and Chief Executive Officer of Nigerian Exchange Group: “The launch of the Dangote Petroleum Refinery IPO is an important moment for Nigeria’s capital market, not simply because of the scale of the transaction, but because of what it represents.

“Our capital market must increasingly become a place where Nigerians can participate in the value created by our country’s most important businesses. That means broadening ownership, expanding access and creating stronger connections between Nigerian enterprise and Nigerian capital.

“At NGX Group, we have been deliberately building the infrastructure to make that possible. Through NGX Invest and connectivity across more than 50 distribution channels, including stockbrokers, banks and fintechs, we are making participation in the public market more accessible.

“This is how we build an ownership economy: strong Nigerian businesses accessing long-term capital, and more Nigerians having the opportunity to participate in their growth.”

Dangote Refinery has emerged as a strategic national asset, helping to strengthen energy security, reduce dependence on imported refined products, conserve foreign exchange, and position Nigeria as a major exporter of petroleum products. Since commencing commercial operations, the Refinery has supplied premium-quality petroleum products to domestic and international markets while supporting industrial growth and economic transformation across the region.

The company emphasised that participation in the offer has been designed to be accessible, transparent, and technology-enabled. Eligible investors can subscribe through approved distribution channels, including NGX Invest, designated commercial banks, and authorised investment platforms, subject to the provisions contained in the Prospectus.

As the commencement ceremony takes place on the floor of the Nigerian Exchange today, Dangote Refinery reaffirmed its commitment to operational excellence, corporate governance, sustainable growth, and long-term value creation for shareholders.

Select NNPC outlets will soon start allowing customers to pump their own fuel. The company is introducing a self-service option which allows customers at designated retail stations to pay for their own fuel through their mobile devices and dispense it themselves, instead of giving cash to an attendant.

NNPC Retail introduced the system with its new Smart Self-Service Station on Bill Clinton Drive, Airport Road, Abuja, on September 10, 2026. To use the self-service, customers will select how much fuel they want to buy through the NR fuel app, pay for the fuel, receive a code and use that code at the pump to start fuelling their vehicle.For drivers who have never used a self-service petrol station before, however, the process may take some getting used to.

The NR fuel app is the backbone of the entire process, as Customers will need it to use NNPC Retail’s digital fuelling system. The app is available on major mobile app stores, including the Google Play Store for Android phones and the App Store for iPhones, and allows customers to make fuel purchases digitally.

Once you’ve downloaded the app, you can go ahead to buy your fuel digitally; however, you cannot simply walk into any NNPC station and expect to use the self-service system because the service is currently available at selected stations. The pilot Smart Self-Service Station in Abuja, for instance, is one of the designated outlets. For ease of use, open the app, click on the dashboard, select a product, and click on ‘nearby station ‘.

You will find a list of selected stations near you that support the self-service options. Look for the distinct green “SELF-SERVE” badge next to a station’s name in the app to confirm they support the feature.

The Unity Bank and Providus Bank merger has been approved by the Supreme Court, clearing the final legal hurdle. The combined bank will operate as Providus-Unity Bank (PUB).

The long-awaited merger between Unity Bank Plc and Providus Bank Limited has finally cleared its last major hurdle after the Nigerian Supreme Court dismissed the final legal challenges against the deal and approved the transfer of Unity Bank’s assets and liabilities.

The ruling comes after regulatory approval from the Central Bank of Nigeria (CBN) and overwhelming support from shareholders of both banks, effectively paving the way for the consolidation to move into its implementation phase.

The merger is part of efforts to create a stronger financial institution that meets the CBN’s recapitalisation requirements for banks with national licences.

With the legal process now concluded, the combined entity is expected to operate under the name Providus-Unity Bank (PUB). While the banks have not yet released a detailed transition timetable, official documents and statements provide a fairly clear picture of what customers can expect.

Mergers are designed to create stronger, more stable financial institutions, not to liquidate them.

Unity Bank brings a massive retail footprint and deep roots in agricultural financing, while Providus Bank contributes an advanced digital infrastructure and robust corporate banking systems.

Combined, the enlarged bank boasts an asset base projected to exceed ₦2 trillion and a deposit base of over ₦1.2 trillion. Your funds remain fully intact and accessible. Behind the scenes, IT teams from both banks are working to integrate their banking systems.

If any account number changes become necessary in the future, often to resolve rare instances where customers at both banks share identical account numbers, the bank will notify you directly well in advance.