Flutterwave to enable online payment for Dangote refinery share applications in Nigeria
In Nigeria, payments company Flutterwave has become one of 32 approved channels for participation in the initial public offering of Dangote Petroleum Refinery and Petrochemicals shares. As The Rio Times reports, the application period will run from September 14 to October 13, 2026.
Flutterwave will provide payment infrastructure on the Chapel Hill Denham platform. Through it, retail investors and Nigerians living abroad will be able to pay online for their share purchase applications. The process is also предусмотрен for users without an existing Flutterwave account.
Terms of the offering
The offering covers 4.1 billion ordinary shares at a price of 525 naira each. The total value of the package is estimated at approximately 2.15 trillion naira, or about $1.6 billion. The sale is described in the article as the largest share sale in Africa.
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The minimum subscription is 10 shares, or 5,250 naira. This amount does not include possible platform fees or transaction charges.
Refinery expansion
The share sale is linked to Aliko Dangote's plans to finance the expansion of the refinery. Tested processing capacity is planned to increase from approximately 700,000 to 1.4 million barrels per day by 2029.
The proposed capital expenditure for the expansion is estimated at $14.3 billion. According to the publication, the digital subscription mechanism is intended to expand access to the offering for investors in Nigeria and abroad.
