Dangote Petroleum Refinery IPO extended by 10 days to 27th October

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• Offering 4.1bn Ordinary Shares @ N525.00/share

The ongoing Dangote Petroleum Refinery and Petrochemicals FZE’S Initial Public Offering of 4,100,000,000 Ordinary Shares at N525.00 Per Share has been extended by ten days.

The offer period has been extended by the Securities and Exchange Commission (SEC) Nigeria, and is now scheduled to close on Tuesday, 27 October 2026.

Since the launch of the Offer, the Issuer has received very strong interest from a broad range of eligible investors across Africa and other jurisdictions.

The extension is intended to support ongoing market-access initiatives across African jurisdictions, including the expansion of distribution channels and the implementation of depositary receipt programmes designed to facilitate efficient cross-border investor participation.

The extension will also provide additional time for prospective investors to complete applicable account-opening, identity verification and regulatory requirements necessary for participation in the Offer.

The Dangote Petroleum Refinery and Petrochemicals FZE (“DPRP” or the “Enterprise”) Initial Public Offering of 4,100,000,000 Ordinary Shares of US$0.000013 each at N525.00 per share (the “Offer”) is originally scheduled to close on Tuesday, 13 October 2026.

DPRP owns and operates a high complexity integrated refining and petrochemical complex with a nameplate refining capacity of 700,000 barrels per day (rerated from its original design capacity of 650,000 bpd) and the capability to produce a range of Euro V-compliant refined petroleum and petrochemical products. DPRP’s integrated refining platform also has a production capacity of up to 830,000 tonnes per annum of polypropylene, with the capability to produce up to 155 distinct grades of polypropylene.

The integration of refining and petrochemical production operations enables the Enterprise to produce higher-value products and diversify its product portfolio into higher-margin chemical derivatives.

The Enterprise intends to expand its refining capacity to approximately 1.4 million barrels per day by 2029 through the addition of a second crude distillation unit and associated processing units. Construction with respect to this expansion project commenced in January 2026.