Nigerian music star David Adeleke, popularly known as Davido, joined business mogul Aliko Dangote in New York’s Times Square as a giant digital billboard promoted the ongoing Initial Public Offering (IPO) of the Dangote Petroleum Refinery and Petrochemicals.
Davido and Dangote appeared together in front of the digital display carrying the message, “Made in Nigeria. Built for the World,” alongside images of the Lagos-based refinery.
The appearance in Times Square comes as the refinery seeks to raise about $1.6 billion through what has been described as Africa’s largest-ever IPO. The offer comprises 4.1 billion ordinary shares priced at ₦525 each and is expected to raise about ₦2.15 trillion if fully subscribed.
The public offer opened on September 14, 2026, and is scheduled to close on October 13. The minimum subscription is 10 shares, valued at ₦5,250, with the offer open to retail, institutional and eligible African investors.
The Times Square display forms part of the international publicity surrounding the refinery’s public offer, which is aimed at broadening ownership of the massive industrial project and attracting investment.
Reports said Davido shared images or video of the Times Square appearance online, drawing attention from Nigerians and social media users as the Nigerian music star stood alongside Dangote beneath the prominent billboard.
The development also comes against the backdrop of strong interest in the refinery’s IPO among Nigerian retail investors. Reuters reported that several digital investment platforms experienced heavy traffic and temporary disruptions following the launch as investors sought to subscribe to the offer.
Dangote has described the public offer as a “people’s IPO”, saying the objective is to give ordinary Nigerians an opportunity to acquire a stake in the refinery. At the official IPO opening on the Nigerian Exchange in Lagos, he said the offer was intended to broaden ownership and democratise wealth creation.
The refinery, located in the Lekki Free Zone in Lagos, was built at a cost of about $20 billion. Reuters reports that the facility is designed to process up to 700,000 barrels of crude oil per day and that proceeds from the IPO are intended to support its expansion plans, including a proposed increase in capacity to 1.4 million barrels per day.
The public offer represents a major development in Nigeria’s capital market, with the Nigerian Exchange describing the refinery as the first petroleum refinery to be offered to investors through the Exchange in its 66-year history.
The IPO has also attracted international financial attention. The Financial Times reported that the offer values the refinery at about $50 billion and could provide millions of Nigerians with an opportunity to participate in one of Africa’s largest industrial projects.
Meanwhile, prospective investors have been advised to use only approved subscription channels and verify investment platforms before providing personal or financial information, amid warnings about possible scams and impersonation surrounding the popular share offer.
With the Dangote Refinery campaign now appearing on one of New York’s most recognisable advertising landmarks, the Times Square appearance involving Dangote and Davido has added a high-profile entertainment and cultural dimension to the refinery’s effort to attract public attention to its IPO.
The share offer remains open until October 13, 2026, subject to the terms contained in the prospectus.
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