Editorial update — 17 September 2026. The original publication date and URL are preserved; this version replaces the earlier report with the source review below.
The official issuer website states the Dangote Refinery offer price as ₦525 per share. The earlier headline’s $0.40 figure was an approximate currency conversion, not a separate fixed dollar offer price.
Why the currency distinction matters
A converted amount changes with the exchange rate. An investor funding in another currency should check the provider’s applicable rate and charges rather than treating an old dollar approximation as a guaranteed cost.
Price and valuation answer different questions
A per-share price is the amount assigned to each share. Equity value also depends on the relevant share count; enterprise value requires additional balance-sheet considerations. These measures should not be used interchangeably. The prospectus summary, page 35 labels its listing valuation as indicative market capitalisation.
Keep separate developments separate
The earlier article also discussed financing transactions, possible cross-listings and other refinery projects. Those assertions are outside this pricing explainer and have been removed from this version. Read the current offer document and subsequent official announcements for changes affecting the subscription.
