Nigerian digital investment platform EthikaVest has made the Dangote Petroleum Refinery Initial Public Offering (IPO) available on its platform, giving Muslim investors a Shariah-screened route to participate in one of Nigeria’s biggest capital market offerings.
EthikaVest announced that the Dangote Refinery IPO is now available to investors on its platform, where users can review the offer and subscribe through the digital investment service.
The platform said the shares had been screened as halal by Prof. AbdurRazaq AbdulMajeed Alaro, an Islamic finance scholar. EthikaVest also reminded investors that the ₦525 offer price is not a guarantee of future returns.
The Dangote Refinery IPO opened on Monday, September 14, 2026, with 4.1 billion ordinary shares offered at ₦525 each. Investors can subscribe for a minimum of 10 shares, valued at ₦5,250, while the offer is scheduled to close on Tuesday, October 13, 2026. The official IPO website says investors should subscribe only through SEC-approved receiving agents or electronic application channels.
The offer is expected to raise about ₦2.15 trillion if fully subscribed and is being marketed as a broad retail opportunity, with investors able to participate through approved banks, fintech platforms, mobile-money operators and NGX Invest.
The approved channels published ahead of the offer included 19 banks, 10 fintech platforms, two mobile-money operators and NGX Invest. EthikaVest was not included in that published list of approved subscription channels, so investors using the platform should follow its stated process and ensure their subscription is processed through an approved channel.
The Securities and Exchange Commission (SEC) has also warned investors to obtain IPO information through official channels and to verify websites and platforms before providing personal or financial information or making payments.
For Muslim investors seeking Shariah-screened investment opportunities, EthikaVest’s availability of the Dangote Refinery offer adds another digital route to consider, while the platform and regulators continue to stress the risks associated with investing in shares.
The official Dangote IPO website states that share prices can rise or fall after listing and that investors may lose some or all of the amount invested.
