BLOG
backThe Dangote Refinery IPO is no longer news. You've probably seen it everywhere: investor memes on your social media timeline, conversations in your family and friends' WhatsApp group, and now it may seem like everyone is suddenly a guru on everything about oil refineries and investment.
But amid this, you may still be wondering how to buy Dangote Refinery shares. The good news is the process is simpler than you might think. You can buy your shares through the Moniepoint banking app or visit a Moniepoint POS agent near you.
Here's exactly how to buy the IPO, what you need before you start, and what happens after you submit your application.
How much does a Dangote Refinery share cost?
The Dangote Refinery IPO lets Nigerians apply to become shareholders in one of Africa’s largest refineries, with shares priced at ₦525 each. You can start with 10 shares, which means a minimum investment of ₦5,250, and you can buy additional shares. For example:
Number of shares | Amount |
10 shares | ₦5,250 |
20 shares | ₦10,500 |
50 shares | ₦26,250 |
100 shares | ₦52,500 |
Your total subscription amount is calculated automatically when you enter the number of shares you want to buy.
What do you need to buy Dangote Refinery shares on Moniepoint?
Before you subscribe, make sure you have:
A Moniepoint account if you're buying from the Moniepoint banking app
Your Bank Verification Number (BVN) if you are buying from a Moniepoint POS terminal
You don't need to have a CSCS account or Clearing House Number (CHN). If you don't, one will be shared with you upon the successful purchase of your Dangote shares
Once you're ready, you can choose between two ways to buy your shares.
How to buy Dangote Refinery IPO shares on the Moniepoint banking app
If you already use the Moniepoint banking app, you can subscribe directly from your phone.
Log in to your Moniepoint Personal or Business banking app.
From the home screen, under the Services section, select More
Then click on Investments. You can also use the search function to find the investment icon.
Accept the Terms & Conditions
Select Dangote Refinery IPO
Enter the number of units you want to buy. The app will automatically show you the Naira equivalent.
Tap Proceed, enter your PIN, and complete your purchase!
That's it. You've submitted your application for the Dangote Refinery IPO.
How to buy Dangote Refinery IPO shares through a Moniepoint POS agent
You don't have to use the app to subscribe. You can also visit a Moniepoint POS agent and ask to subscribe to the Dangote Refinery IPO. Here's how it works.
- You don't have to use the app to subscribe. You can also visit a Moniepoint POS agent and ask to subscribe to the Dangote Refinery IPO. Here's how it works.
- Find the nearest agent, and tell them you want to buy Dangote Refinery IPO shares
- The agent will ask you if you have a Moniepoint account
- If NO:
- Input your BVN
- Agent sets up your profile
- Give your bank account for dividends
- If YES:
- Give your Moniepoint account number
- Tell the agent how many shares you want
- Review the details together
- Agent completes payment
- Confirm details on screen
Important: Always enter your personal information yourself where possible, and never give an agent your transaction PIN, password or OTP. Approved IPO channels will never ask for these details.
What happens after you buy Dangote Refinery shares?
Submitting your application doesn't automatically mean you'll receive every share you requested.
After the IPO closes, applications will go through the allotment process. If demand exceeds the number of shares available, you may receive fewer shares than you applied for.
Once the allotment process is completed, your allotted shares will be credited to your CSCS account. This will happen within 15 business days after the SEC clears the Basis of Allotment.
If you aren't allotted all the shares you applied for, the unused portion of your payment will be refunded according to the offer process. Once Dangote Refinery is officially listed on the Nigerian Exchange (NGX), you can buy or sell its shares through a registered stockbroker.
What should you know before buying Dangote Refinery shares?
Buying shares is an investment, so it's important to understand what you're investing in before you subscribe. Share prices can go up or down, and you could lose some or all of the money you invest. Dividends are also not guaranteed.
If you're investing for the first time, make sure you're using money you can afford to leave invested and take some time to read the IPO Prospectus before you make your decision. When in doubt, speak to a licensed financial adviser.
And if you're not yet familiar with what a share is or how an IPO works, start with our Beginner's Guide to Investing in Shares and IPOs to understand how shares, IPOs and investment work.
