News
Dangote Refinery Opens N2.15trn IPO to Public Investors
Nasiru Yusuf Ibrahim
The Dangote Petroleum Refinery and Petrochemicals FZE on Monday commenced its Initial Public Offering (IPO), offering members of the investing public an opportunity to acquire shares in Africa’s largest refinery.
KANO FOCUS reports that the IPO, formally launched at a ceremony on the trading floor of the Nigerian Exchange (NGX) in Lagos, marks a significant development in Nigeria’s capital market and the ownership structure of the multibillion-dollar refinery.
The offer comprises 4.1 billion new ordinary shares at N525 per share, with a minimum subscription of 10 shares valued at N5,250.
The offer is scheduled to close on October 13, 2026, subject to the terms contained in the prospectus.
The transaction is targeted at retail and institutional investors as well as eligible African investors, with the company saying the initiative is designed to broaden ownership and deepen participation in Nigeria’s capital market.
The IPO is expected to raise approximately N2.15 trillion, making it one of the largest equity offerings in Africa.
According to the company, proceeds from the offer will support the refinery’s long-term growth plans, operational expansion and strategic investments, while creating additional value for shareholders and other stakeholders.
Speaking on the significance of the IPO, President and Chief Executive Officer of Dangote Industries Limited, Aliko Dangote, described the offer as a new chapter in the history of the refinery and Nigeria’s economic development.
“Today marks the beginning of a new chapter in the history of Dangote Refinery and, indeed, in the economic future of our nation,” Dangote said.
He said the offering was not only about raising capital but also about creating an opportunity for Nigerians, Africans and investors globally to participate directly in one of the continent’s major industrial projects.
Dangote said the refinery was established to transform Africa’s energy landscape, create jobs, conserve foreign exchange and promote shared prosperity.
He added that the IPO would extend that vision by broadening ownership and allowing millions of people to benefit from the value created by the project.
Also speaking, Group Managing Director and Chief Executive Officer of Nigerian Exchange Group, Temi Popoola, said the launch represented an important moment for Nigeria’s capital market because of both the scale of the transaction and its implications for broader public ownership.
Popoola said the capital market should increasingly provide Nigerians with opportunities to participate in the value created by major domestic businesses.
He said the NGX had been developing infrastructure to make public-market participation more accessible, including through NGX Invest and connectivity across more than 50 distribution channels involving stockbrokers, banks and fintech companies.
According to him, greater participation would help build an “ownership economy” in which strong Nigerian businesses access long-term capital while more Nigerians participate in their growth.
The Dangote Refinery said it has emerged as a strategic national asset by contributing to energy security, reducing dependence on imported refined petroleum products and conserving foreign exchange.
The company said the refinery, since commencing commercial operations, has supplied petroleum products to domestic and international markets while supporting industrial growth and economic transformation in the region.
It added that the IPO had been designed to be accessible, transparent and technology-enabled.
Eligible investors can subscribe through approved distribution channels, including NGX Invest, designated commercial banks and authorised investment platforms, subject to the provisions of the prospectus.
As the commencement ceremony takes place at the Nigerian Exchange, Dangote Refinery reaffirmed its commitment to operational excellence, corporate governance, sustainable growth and long-term value creation for shareholders.
Nasiru Yusuf Ibrahim
The Nigeria Union of Journalists (NUJ), Kano State Council, has called on residents to give maximum support and cooperation to the newly established Multi-Agency Task Force on Drug Abuse in the state.
KANO FOCUS reports that the union also commended the Kano State Government for establishing the task force and appointing Barr. Muhuyi Magaji Rimingado as its chairman.
The NUJ made the call in a communiqué issued at the end of its congress meeting held on Saturday, October 31, 2026, at the Press Centre Conference Hall in Kano.
The congress described the establishment of the task force as an important step towards addressing drug abuse and urged residents to cooperate with it to enable it discharge its responsibilities effectively.
The union’s position comes amid growing concerns over drug abuse and its associated social challenges, particularly among young people.
The congress also urged politicians and other political stakeholders to conduct their electioneering activities ahead of the 2027 general elections in accordance with established rules and regulations.
It called on political actors to shun thuggery, hate speech and defamatory statements capable of undermining peace and unity in the state.
On security and community relations, the NUJ urged the state government to urgently address recurring farmers-herders conflicts to prevent further loss of lives and destruction of property.
It stressed the need for proactive measures to promote peaceful coexistence between farming and herding communities.
The congress further called on the government and relevant agencies to intensify public awareness campaigns on fire prevention and safety, particularly as the harmattan season approaches.
While commending the government’s efforts to revitalise water supply and improve access to potable water in Kano metropolis, the union urged it to extend similar interventions to rural communities.
The NUJ also welcomed the recent cabinet reshuffle by Governor Abba Kabir Yusuf, describing it as a step towards strengthening governance and service delivery.
However, it appealed to the governor to consider appointing a professional from the media industry as Commissioner for Information and Internal Affairs, citing the strategic importance of the ministry.
On road safety, the congress called on traffic regulatory agencies to intensify public enlightenment and road-user education to reduce accidents amid ongoing infrastructure development and increasing traffic activities across the metropolis.
The union also congratulated the NUJ Kano State Council on securing the hosting rights for the forthcoming Media Security Summit, describing the development as a significant achievement for the council and the media industry.
At the meeting, the congress also filled the vacant position of Assistant Secretary with Comrade Mubarak Ismaila Madungurum, a journalist with Abubakar Rimi Television (ARTV), Kano.
The congress concluded with special prayers for departed colleagues and relatives, including Ismaila Garba Gwammja, the mother of the council’s Vice Chairman, Comrade Mustapha Gambo, and the wife of Comrade Dahiru Ibrahim Biso.
It prayed for the peaceful repose of their souls and for Allah to grant their families the fortitude to bear the losses.
The communiqué was signed by the NUJ Kano State Council Chairman, Comrade Sulaiman Dederi, and Secretary, Comrade Hauwa Zaharadeen.
Nasiru Yusuf Ibrahim
The Kano State Sports Commission has congratulated Ibrahim Abdullahi Waiya on his redeployment as Commissioner for Youth and Sports Development by Governor Abba Kabir Yusuf.
KANO FOCUS reports that the commission described the redeployment as a welcome development, reflecting the confidence reposed in Waiya’s leadership ability, administrative experience and commitment to public service.
In a statement issued on Saturday, by the commission’s Public Relations Officer, Zulfa’at Abubakar Rano, the Chairman of the Commission, Muhammad Tukur Babangida, expressed confidence that Waiya would bring his wealth of experience to bear on youth and sports development in the state.
Waiya was previously the Commissioner for Information and Internal Affairs before his redeployment in the minor cabinet reshuffle announced by the governor.
Babangida said the new commissioner’s experience in public service, communication, policy implementation and stakeholder engagement would contribute to advancing the ministry’s objectives and strengthening the sports sector.
He also pledged the commission’s readiness to collaborate with the ministry to promote grassroots sports, identify and nurture emerging talents, empower young people and improve Kano’s competitiveness in national and international sporting activities.
The chairman stressed that effective collaboration between the ministry and the commission would be crucial to achieving sustainable growth in the sports sector and creating more opportunities for youth participation and development.
He wished Waiya a successful tenure, expressing optimism that his appointment would bring innovation and further progress to youth and sports development in Kano State.
Nasiru Yusuf Ibrahim
Kano State Governor, Abba Kabir Yusuf, has sworn in six newly appointed commissioners, three advisers and 19 permanent secretaries as part of efforts to strengthen governance and improve service delivery in the state.
KANO FOCUS reports that the ceremony followed the confirmation of the six commissioner nominees by the Kano State House of Assembly on October 26, 2026, after completing the legislative screening process.
The newly sworn-in commissioners are Air Commodore Salisu Yusha’u (retd.), assigned to the Ministry of Internal Security and Special Services; Ibrahim Namadi Dala, Investment; Prof. Sani Lawan Manunfashi, Higher Education; Muktar Ishaq Yakasai, Humanitarian Affairs and Poverty Alleviation; Dr Aminu Ibrahim Tsanyawa, Science and Technology; and Idris Garba Mustapha, Special Duties.
In a related development, the governor announced a minor cabinet reshuffle involving the redeployment of two commissioners to different ministries.
Under the new arrangement, Dr Ibrahim Abdullahi Waiya, who previously served as Commissioner for Information and Internal Affairs, has been moved to the Ministry of Youth and Sports Development.
Similarly, Hamza Kachaco has been redeployed to the Ministry of Environment.
The reshuffle leaves the Ministries of Information and Internal Affairs, as well as Solid Minerals and Mineral Resources, vacant pending further decisions by the state government.
According to a statement issued by the Director-General, Media and Publicity, Government House, Kano, Sunusi Bature Dawakin Tofa, the appointments and redeployments are aimed at strengthening government institutions, improving administrative efficiency and repositioning key ministries for effective service delivery.
The governor urged the new appointees to demonstrate dedication, integrity and commitment to their responsibilities, stressing the need to prioritise public interest and contribute to the development of the state.
He also charged them to work collaboratively in advancing his administration’s development agenda and delivering the dividends of democracy to the people.
Gov Yusuf congratulated the appointees and wished them success in their respective assignments.
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