# Wetin go happen to your Dangote refinery shares before allotment and listing > Di Dangote refinery offer don close since 27 October, but allotment, refund and first trading day never come, and nobody don confirm any date. Money & Markets · Binatec Pulse · David Banjo · Published 2026-11-10T08:27:22.164Z · Updated 2026-11-10T08:36:07Z Canonical: https://pulse.binatecagency.com/pcm/money/dangote-refinery-shares-allotment-refund-pidgin ## Key points - Di ₦2.15 trillion offer of 4.1 billion shares at ₦525 close on 27 October 2026. - Reports talk say orders na about ₦6.4 trillion, roughly three times wetin dem put for sale, so dem fit reduce wetin you get. - Basis of allotment suppose reach SEC around 10 November, and clearance na 17 November target. - Trading for NGX fit start around 8 December, but dat date no confirm. If you apply for Dangote refinery shares, you fit dey wonder why dem never show for your account. Di ₦2.15 trillion offer of 4.1 billion shares at ₦525 each [close on 27 October 2026](https://www.legit.ng/business-economy/capital-market/1739489-dangote-refinery-sets-december-8-date-nigerians-trading-shares-ngx/) after dem move di deadline from 13 October. Now di work dey with di registrars, di issuing house and di Securities and Exchange Commission (SEC), and every date wey you go see here na target, e no be promise. ## Why my Dangote shares never enter? Closing di offer na only first step. [Daba Finance](https://dabafinance.com/en/insights/dangote-refinery-ipo-closed-what-happens-next) talk say registrars go collate all di applications from banks, brokers and apps, di issuer go set how dem go share di shares (basis of allotment), and SEC go clear am before anybody know wetin e get. [Legit.ng, wey quote BusinessDay and The Guardian](https://www.legit.ng/business-economy/capital-market/1739489-dangote-refinery-sets-december-8-date-nigerians-trading-shares-ngx/), report say registrars suppose finish collation by 3 November, basis of allotment suppose reach SEC on 10 November, and clearance na 17 November target. After dat, dem go credit di CSCS accounts of people wey get shares. Dem never confirm dese dates for di reports wey we see. ## Una go get all di shares una apply for? E fit no be so. Reports wey get Reuters as source say orders reach [about ₦6.4 trillion, wey be roughly three times wetin dem put for sale](https://hydrocarbonprocessing.com/news/2026/10/dangote-refinery-ipo-draws-three-times-target-demand/). When demand big like dat, dem fit reduce wetin each person get. [Cowrywise](https://help.cowrywise.com/en/articles/16889827-dangote-refinery-ipo-everything-you-need-to-know) talk say di issuing house and regulators "may scale down allotments proportionally" if demand pass di 4.1 billion shares. [TheCable report](https://www.thecable.ng/refinery-ipo-didnt-hit-10m-investors-target-says-dangote/) say Dangote talk say di offer no reach di 10 million investors target. We no see any official final number of investors. ## When my refund go come? If dem give you fewer shares than wetin you pay for, di money wey remain suppose come back. Cowrywise talk say any unallocated balance go [return to your bank account after allotment](https://help.cowrywise.com/en/articles/16889827-dangote-refinery-ipo-everything-you-need-to-know). Daba Finance say people wey use Daba go get refund inside dia Daba account, and na end of November or early December dem dey expect am, but na tentative. So di refund time start from allotment, no be from when offer close. If your money still dey hold, check di bank, broker or app wey you use. ## When Dangote shares go start trade for NGX? Nobody don fix di date. [Legit.ng](https://www.legit.ng/business-economy/capital-market/1739489-dangote-refinery-sets-december-8-date-nigerians-trading-shares-ngx/) say trading fit start around 8 December, but e talk say na "not a confirmed commencement date" and e depend on approval and Nigerian Exchange requirements. Analyst Tajudeen Olayinka, wey [Vanguard](https://www.vanguardngr.com/2026/11/election-fever-dangote-refinery-to-drive-stock-investors-fortune-at-year-end/) quote, say dem expect di listing for November. Daba Finance only talk say e go happen before end of 2026. Dem no agree for dis reports, so wait for official Nigerian Exchange notice before you plan anything. ## Wetin you fit do now? - Keep your application receipt and remember di bank, broker or app wey you use. - No pay anybody wey promise early allotment or "guaranteed" listing price. - Check say your CSCS details correct with your stockbroker. - Follow official notices from SEC, di Nigerian Exchange and registrars, no follow social media rumour. Dis one no be investment advice. ## Questions people are asking ### When Dangote refinery shares go enter my account? No official date yet. Reports say SEC clearance na 17 November target, den dem go credit CSCS accounts. ### Dem go refund me? If dem give you fewer shares, di unused money suppose return after allotment, to your bank account or di app wey you use. ### When Dangote shares go start trade? Around 8 December according to Legit.ng, but dem no confirm am. ## Sources 1. [Dangote Refinery sets December 8 date for Nigerians to begin trading shares on NGX](https://www.legit.ng/business-economy/capital-market/1739489-dangote-refinery-sets-december-8-date-nigerians-trading-shares-ngx/), Legit.ng 2. [Election fever, Dangote Refinery to drive stock investors’ fortune at year end](https://www.vanguardngr.com/2026/11/election-fever-dangote-refinery-to-drive-stock-investors-fortune-at-year-end/), Vanguard 3. [Dangote Refinery IPO has closed. Here is what happens next](https://dabafinance.com/en/insights/dangote-refinery-ipo-closed-what-happens-next), Daba Finance 4. [Dangote Refinery IPO: everything you need to know](https://help.cowrywise.com/en/articles/16889827-dangote-refinery-ipo-everything-you-need-to-know), Cowrywise 5. [Refinery IPO didn’t hit 10m investors target, says Dangote](https://www.thecable.ng/refinery-ipo-didnt-hit-10m-investors-target-says-dangote/), TheCable 6. [Dangote refinery IPO draws three times target demand](https://hydrocarbonprocessing.com/news/2026/10/dangote-refinery-ipo-draws-three-times-target-demand/), Hydrocarbon Processing