By Faith Eze
United Bank for Africa Plc has been officially named as one of the authorized financial institutions through which eligible investors can participate in the highly anticipated Initial Public Offering of the Dangote Petroleum Refinery and Petrochemicals. This development provides customers, business owners, institutional investors, and members of the public with a secure and direct pathway to acquire shares in one of Africa's most significant industrial enterprises.
The landmark public offer comprises 4.1 billion ordinary shares priced at N525 per share. To ensure broad participation and foster financial inclusion, the minimum subscription has been set at 10 shares, which is valued at N5,250, with options for investors to apply for additional units according to the terms outlined in the official offer documents. The public offer officially opened on September 14, 2026, and is scheduled to run until October 13, 2026.
Speaking on the milestone, UBA Group Executive Director Designate, Tosin Adewuyi, expressed enthusiasm about the bank's role in the process. He noted that the initiative aligns with the institution's ongoing commitment to deepening financial inclusion and expanding meaningful opportunities for individuals and businesses to participate in Nigeria's capital market. By facilitating access, the bank aims to enable everyday citizens and major stakeholders alike to share in the ownership and future growth of the mega-refinery.
Prospective subscribers utilizing UBA's designated self-service channels are advised to ensure that their personal details and banking information, particularly their Bank Verification Number data, are accurate and up to date before submitting their applications. Furthermore, financial experts and bank representatives strongly encourage investors to carefully review the prospectus and offer documents, understand the inherent risks of equity investments, and seek professional advice where necessary.
As the subscription window remains open through October, regulators and financial institutions continue to remind the public to utilize only officially approved channels and remain vigilant against unauthorized platforms or fraudulent schemes.