Dangote IPO: Remita Opens Digital Path for Millions of Nigerian Investors

Remita has been selected as one of the approved electronic application channels for the Dangote Petroleum Refinery’s historic Initial Public Offering (IPO), a move expected to make it easier for retail investors across Nigeria to subscribe digitally to what is projected to be Africa’s largest share sale.

The approval, granted under the Nigerian Exchange’s public offer framework, means eligible individual and corporate investors will be able to submit IPO applications through Remita’s digital platform once subscriptions open on September 14. The offer is scheduled to close on October 13, with trading expected to commence later in November, subject to regulatory processes.

The Dangote Refinery IPO aims to raise approximately ₦2.15 trillion through the sale of 4.1 billion ordinary shares priced at ₦525 per share. The public offer has been designed as a retail-focused investment opportunity, allowing Nigerians to own a stake in the 650,000-barrel-per-day refinery that has rapidly become one of the country’s most strategic industrial assets.

Remita’s Managing Director, Deremi Atanda, described the approval as a vote of confidence in the company’s payment infrastructure, saying the platform was built to support secure, high-volume financial transactions. He added that integrating fintech into major capital market transactions represents an important step toward expanding financial accessibility and modernising how Nigerians participate in public investments.

The announcement coincides with the rollout of Remita’s upgraded mobile application, which consolidates banking, bill payments, budgeting and other financial services into a single platform. The company says the same ecosystem will now provide eligible users with a convenient channel to complete their IPO applications digitally, provided they meet the offer’s verification requirements, including BVN and capital market registration details.

Dangote Petroleum Refinery has also approved dozens of banks, fintech firms, mobile money operators and NGX Invest as authorised subscription channels, while urging prospective investors to apply only through officially designated platforms to avoid fraud. The refinery’s investor portal emphasizes that applications submitted outside approved channels will not be recognized.

The IPO represents more than a fundraising exercise. Proceeds are expected to support the refinery’s ambitious expansion plan, including doubling its processing capacity to 1.4 million barrels per day by 2029, reinforcing its position as a key player in Africa’s energy future.

For Nigeria’s capital market, Remita’s inclusion signals the growing role of fintech in widening investor participation. As digital platforms increasingly bridge the gap between everyday Nigerians and the stock market, the Dangote IPO could become a defining moment in the country’s journey toward more accessible, technology-driven investing.