Dangote Petroleum Refinery and Petrochemicals FZE (DPRP) has extended the application period for its initial public offering (IPO) by two weeks, following approval from the Securities and Exchange Commission (SEC).

The company said the extension followed exceptionally strong interest from eligible investors across Africa and international markets, describing the offer as one of the most significant capital market offerings in Nigerian and African history.

The IPO comprises 4.1 billion ordinary shares with a nominal value of US$0.000013 each, offered at N525 per share. It opened on Monday, September 14, 2026, and was originally scheduled to close on Tuesday, October 13, 2026.

The application period will now remain open until Tuesday, October 27, 2026.

Dangote Refinery said investor participation since the launch had demonstrated growing confidence in its long-term growth prospects and its strategic role in transforming Africa’s energy landscape.

Speaking to journalists at the refinery, the President of Dangote Group, Aliko Dangote, said the IPO was progressing well.

“We will extend the closing date because we want more of our African brothers and sisters to participate. Following our discussions with the Nairobi Stock Exchange, we have identified what we believe is the best way to facilitate participation,” Dangote said.

“We are now trying to replicate that arrangement with other African exchanges to ensure wider participation… But when it comes to the amount of money we originally intended to raise, we have already received subscriptions amounting to more than three or four times that figure… So, it is not about the amount of money. It is about the number of people who will have the opportunity to participate in this offer. That means quite a lot to us.”

The company said the additional two weeks would support ongoing initiatives to broaden market access across African jurisdictions. These include expanding distribution channels and introducing unsponsored depository receipt programmes designed to facilitate cross-border investment.

The extension would also give prospective investors more time to complete account-opening procedures, identity verification, and other regulatory requirements necessary to participate in the offer.

The Managing Director and Chief Executive Officer of DPRP, David Bird, welcomed the SEC’s approval, saying it would give more investors across Africa an opportunity to participate.

“We welcome the SEC’s approval of the extension, which will give more investors across Africa the opportunity to participate in the Offer.

“From the outset, our ambition has been to enable as many people as possible to participate in the IPO and share in DPRP’s future growth. The additional time will help us extend that opportunity to more investors across Africa.”

The company said it remained encouraged by the level of investor engagement across its target markets and believed the extension would broaden participation among retail, institutional, and cross-border investors seeking to take part in the refinery’s next phase of growth.