Presidential candidate of the Nigerian Democratic Congress, Peter Obi, has urged Nigerians in the country and abroad to consider investing in the ongoing Initial Public Offering of Dangote Petroleum Refinery and Petrochemicals.
Obi made the call while responding to enquiries from Nigerians about the public offer, describing the refinery investment as an important development for Nigeria’s productive economy.
In a message posted on his X handle, the former Anambra State governor commended businessman Aliko Dangote for committing substantial resources to the country’s real sector.
“I remain very proud of the commitment and breakthrough of Alhaji Aliko Dangote’s investment in the real sector of our country’s economy, across different sectors,” Obi said.
He said the development supported his long-standing argument that Nigeria needed to reduce its dependence on consumption and place greater emphasis on production, industrialisation and investment.
“This validates my position that we should move Nigeria from consumption to production,” he added.
Obi also encouraged other Nigerian companies operating in productive sectors to consider similar investment models and create opportunities for citizens to acquire ownership stakes in local businesses.
He said public share offerings could provide Nigerians with an opportunity to participate directly in the growth of domestic enterprises while helping to deepen local investment.
“I, therefore, encourage other Nigerian businesses to invest in the productive sectors of the Nigerian economy and also give fellow Nigerian citizens the opportunity to be part of the re-industrialisation of the country by offering their shares to the public through public offerings,” Obi said.
The Dangote Petroleum Refinery and Petrochemicals IPO was approved by the Securities and Exchange Commission (SEC) in September 2026.
According to information published on the official IPO platform, the shares are being offered at ₦525 each, with investors required to subscribe for a minimum of 10 shares, equivalent to ₦5,250.
The offer period is scheduled to run from September 14 to October 13, 2026, subject to the terms contained in the approved offer documents.
The SEC has urged prospective investors to rely only on authorised channels when subscribing and to carefully study the approved prospectus before committing funds.
The regulator’s guidance is aimed at ensuring that investors obtain accurate information about the offer and avoid unauthorised persons or platforms seeking to collect money or personal details in connection with the share sale.
Obi’s comments come amid growing attention to the public offering, which gives eligible Nigerian investors and other qualified participants an opportunity to acquire shares in the refinery.
His intervention also renews the discussion around domestic participation in major Nigerian businesses and whether public offerings can help broaden ownership of strategic companies among citizens.
The Dangote refinery, located in Lagos, is one of the country’s largest private-sector industrial investments and has become a major part of discussions around domestic refining capacity, energy security and Nigeria’s transition towards greater local production.
