What Do I Need to Buy Dangote Refinery IPO Shares as a First-Time Investor?

Since you are a first-time investor and you want to be ready for the Dangote Petroleum Refinery IPO opening on 14 September 2026, the safest approach is to get your InvestNaija account, KYC and funding sorted before 14 September, rather than waiting until the offer opens.
Current reports indicate that the IPO is priced at ₦525 per share, with a minimum of 10 shares (₦5,250). The offer is expected to run from 14 September to 13 October 2026. �
Reuters +1
Importantly, InvestNaija itself currently says its Dangote IPO subscription will be available once the transaction is officially announced/open, so you can prepare the account and funding now, but you should wait for the actual IPO subscription option to appear in the app/official InvestNaija channel. �
Invest Naija
Your preparation plan
Step 1 — Download the correct InvestNaija app
Use the official InvestNaija service from InvestNaija⁠�.
Be careful: don’t download an app from a WhatsApp link, Telegram group or an unknown website claiming to be InvestNaija.
Open the app and select Sign Up / Create Account.
Step 2 — Create your investment account
You will normally be asked for information such as:
Full name
Phone number
Email address
Date of birth
Bank details
BVN
NIN/identification information
Residential/contact information
Other KYC information
Use your real details exactly as they appear on your identification and bank records.
This is important because the investment account, bank account and your eventual CSCS/shareholding records need to be properly linked.
Step 3 — Complete your KYC verification
Don’t stop after creating the username/password.
Look for something like:
Profile → Verification/KYC → Complete verification
Complete every outstanding requirement.
You want your account to show something equivalent to:
Verified / KYC completed
before the IPO opens.
InvestNaija indicates that its accounts have KYC requirements, and its current platform information specifically refers to Tier 2 KYC for certain investment-account functions. �
Invest Naija
Step 4 — Create/confirm your investment account number
This is one area where I don’t want you to guess.
Depending on the current version of the InvestNaija app, the investment account/portfolio details may be generated after registration and KYC approval rather than being something you manually invent.
After verification, go to areas such as:
Profile → Account Details
or
Portfolio → Account Details
or
Investments → Account Information
Look for your:
Investment/account number
Bank funding details
Virtual account number, if provided
CSCS information, if already generated/linked
Very important
Do not transfer money to an account number you find on Google, WhatsApp or from another person.
Only use the funding account details displayed inside your authenticated InvestNaija account or officially provided by InvestNaija.
Step 5 — Fund your InvestNaija account
Once your account is verified, look for:
Fund Account / Add Money / Deposit / Wallet
You may be given a bank account or other approved funding method.
For example, if the app gives you a dedicated funding account:
Your bank app → Transfer → InvestNaija funding account → Enter amount → Confirm
Keep the transfer receipt.
Then return to InvestNaija and confirm that the money has appeared in your available balance.
Don’t fund only on the morning of 14 September
I recommend funding before the IPO opens.
Why?
Because you don’t want to discover on 14 September that:
KYC is incomplete
your bank account isn’t linked
your funding account hasn’t activated
your transfer is pending
the IPO subscription button isn’t working for you
you have entered the wrong account details.
Step 6 — How much should you fund?
The reported IPO price is:
₦525 per share
Minimum:
10 shares
Therefore:
10 × ₦525 = ₦5,250
So, theoretically:
Shares
IPO value
10
₦5,250
20
₦10,500
50
₦26,250
100
₦52,500
200
₦105,000
500
₦262,500
1,000
₦525,000
The minimum subscription of 10 shares has been reported by multiple sources. �
Financial Times +1
But don’t assume that ₦5,250 is necessarily the exact amount you should transfer. There could be applicable transaction/processing charges depending on the platform and final offer mechanics.
If you want to buy 10 shares, I would therefore leave a little extra balance rather than funding exactly ₦5,250.
Step 7 — On 14 September, don’t immediately press “Buy”
This is very important for a beginner.
An IPO is different from buying an already-listed NGX share.
You aren’t necessarily going into the normal stock-market screen and buying Dangote Refinery shares from another investor.
Instead, you will be subscribing to the IPO/public offer.
Look for something like:
Dangote Petroleum Refinery & Petrochemicals IPO
Then:
Subscribe / Invest → Enter number of shares → Review → Confirm
For example, if you want the minimum:
10 shares × ₦525 = ₦5,250
Then confirm the subscription.
InvestNaija currently says that once the transaction is officially announced and open, investors will be able to subscribe for Dangote Petroleum Refinery and Petrochemicals shares through its platform/WhatsApp channel. �
Invest Naija
Step 8 — What happens after you subscribe?
This is another important point.
Your money going out does not necessarily mean you immediately own the shares.
There is an IPO process involving:
Subscription
Offer closing
Processing/allotment
Possible refund of excess funds
Share allocation
CSCS registration
Eventual listing/trading on NGX
The current indicative timetable reported by Reuters has the IPO running 14 September–13 October 2026, with listing expected around late November. �
Reuters
So don’t panic if you don’t see the shares in your portfolio immediately after submitting your application.
Step 9 — Understand oversubscription
This is extremely important.
Suppose you apply for 100 shares.
That does not automatically mean you will receive all 100 shares.
If demand is greater than the shares available for the particular investor category, there may be an allocation mechanism.
For example, you could request:
100 shares = ₦52,500
but ultimately receive fewer shares, depending on the final allocation rules.
Therefore, don’t invest money you urgently need simply because you believe you are guaranteed a particular number of shares.
Step 10 — Make sure your CSCS information is correct
Since this is your first investment, learn this word now:
CSCS
CSCS = Central Securities Clearing System.
It is essentially the infrastructure through which securities ownership and settlement are maintained in Nigeria’s capital market.
Your shares aren’t simply sitting inside your InvestNaija app like money in a savings wallet.
The investment platform/brokerage process ultimately connects your investment to the appropriate capital-market records.
Your timeline
9 September — TODAY
Create InvestNaija account.
↓
9–10 September
Complete KYC.
↓
10–12 September
Confirm your investment/account details and CSCS-related information.
↓
Before 14 September
Fund the account.
↓
14 September
Open InvestNaija and look for the Dangote Refinery IPO/Public Offer.
↓
14 September onward
Submit your IPO subscription.
↓
13 October
Expected offer closing date according to current reports.
↓
After closing
Wait for allotment/settlement.
↓
Expected late November
Shares are expected to begin trading on NGX, subject to the final timetable. �
Reuters
If you have only ₦5,000
There is one important issue.
At ₦525 per share, 10 shares cost:
₦5,250
Therefore, ₦5,000 is slightly below the reported minimum subscription value.
You would need at least ₦5,250 for the shares themselves, plus any applicable charges.
So if your budget is ₦5,000, you should not transfer the money yet expecting to complete the minimum subscription. Add at least another ₦250, and preferably a little more for any applicable charges.
One more thing I strongly recommend
Because this is your first investment, don’t simply fund InvestNaija and start pressing buttons.
9. Check CSCS → 10. What to do after the shares are listed.