Dangote Petroleum Refinery and Petrochemicals (DPRP) issued an urgent public notice on Saturday, March 28, 2026, refuting recent media reports and social media claims suggesting that the company has officially launched or announced an Initial Public Offering (IPO).
The rumours intensified following a viral social media post falsely claiming the refinery was up for sale to private families for $30 billion.
In an Official statement, the refinery management urged the public to disregard unverified documents and viral posts claiming an imminent listing. They emphasized that such information does not originate from the DPRP or it’s appointed advisers.
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The company maintained that any future transaction or listing would only be communicated through formal public disclosures, regulatory filings with the Securities and Exchange Commission (SEC) and official announcement on the Nigerian Exchange (NGX).
The company clarified that the $30 billion figure actually refers to the Dangote Groups projected annual revenue for 2026, not a sale price for an IPO valuation.
While current reports are deemed “unauthorized,” Aliko Dangote had previously indicated in February 2026 that the company intended to list a minority stake (approximately 5% to 10%) by the second or third quarter of 2026. However, the refinery insists that no official offer of securities has been made at this time.
The DPRP stressed that this communication is for informational purposes only and does not constitute an offer to sell or a solicitation to buy any securities. Market participants are advised to rely solely on verified information issued by authorized representatives of the refinery.
