25/07/2026
Many analysts expect the Dangote Refinery IPO window to open around August, but Aliko Dangote recently stated that the IPO is planned for September. So, hopefully, the offer will go live on the Nigerian Exchange Group (NGX) in September. To take advantage of it, below are the steps you need to follow:
1️⃣ Open a Brokerage Account:
You will need an account with a licensed stockbroker such as ARM Securities, Trove Finance, LeadCapital, Bamboo, Stanbic IBTC, Chaka, Afrinvest, and others. You only need one. You can download their apps from the Play Store or Apple App Store. Once your account is set up, you should receive your Central Securities Clearing System number (CSCS). This is where Nigerian shares are held electronically. You need a CSCS account to invest in the Dangote Refinery IPO. To open a brokerage account, you will typically need:
• A valid means of identification (National ID, International Passport, or Driver’s License)
• Your Bank Verification Number (BVN)
• A recent utility bill
• Passport photographs
2️⃣ If You Already Have a Stockbroker Account:
If you already have an account with a stockbroker and you currently buy stocks, then you are already set. It means your CSCS account is active. When the IPO is listed, simply:
• Log in to your brokerage app or platform
• Fund your account
• Go to the IPO/Public Offers section
• Select Dangote Refinery IPO
• Enter the number of shares or amount you want to invest
• Submit your subscription
• Wait for share allotment
That’s all in most cases.
3️⃣ Fund Your Account Early:
Large public offers like the anticipated Dangote Refinery IPO are known to sell out quickly and often become heavily oversubscribed. Because of this, it is very important to pre-fund your brokerage account with the amount you intend to invest so your application can be submitted immediately once the subscription window opens. Avoid last-minute network congestion or payment delays. Transfer your investment capital into your broker’s settlemen