Vas Payments

ARTICLES IN THIS SECTION

Dangote Petroleum Refinery & Petrochemicals IPO - FAQsCan I increase my single airtime/data purchase limit?I keep seeing a Service Unavailable error when trying to buy airtime or data. What does this mean?I purchased airtime/data for the wrong phone number. Can it be transferred to the correct one?I accidentally bought a higher data plan than I planned. Can I get a refund or reversal?I accidentally bought more airtime than I planned. Can I get a refund or reversal?My data purchase failed, but I was debited and haven't received a reversal. What should I do?My airtime transaction failed, but I was debited and haven't received a reversal.I bought data and my transaction was successful, but I haven't received it.I bought airtime and my transaction was successful, but I haven't received it.Why is my airtime or data transaction status showing as Pending or In-Progress?I initiated a successful Remita/Other collections transaction, however I inputted the wrong amount or I made the payment to the wrong beneficiary. I initiated a successful electricity transaction, however I inputted the wrong amount or I made the payment to the wrong meter number.Service Unavailable Message when attempting a payment (Bills, Airtime, Data ) Successful electricity bill yet to reflect on the customer's meterI carried out a successful prepaid bill payment, but the token is not workingI did a successful WAEC payment, but the pin was not generated on the receipt, what do I do?My wallet was debited for a failed WAEC transaction without reversal, what do I do?I carried out a WAEC payment and the status shows as pending, what do I do?What is to be done if customer claims the WAEC PIN generated is invalid?

Dangote Petroleum Refinery & Petrochemicals IPO - FAQs


The Dangote Petroleum Refinery & Petrochemicals IPO FAQ is for informational purposes only. It is not investment advice. Please read the full Prospectus carefully before making any investment decision. If you are unsure, consult a registered stockbroker, financial adviser, accountant, or solicitor.


Overview & Key Offer Details


Dangote Petroleum Refinery & Petrochemicals FZE (DPRP) is offering ordinary shares to the public via an Offer for Subscription to fund its refining and petrochemical expansion


About the Dangote Petroleum Refinery & Petrochemicals IPO


  1. What is an IPO? An Initial Public Offering (IPO) is the first time a private company offers its shares to the public. When you buy shares in an IPO, you become a part-owner of the company. If the company does well, the value of your shares may increase and you may receive dividends.
  2. What type of offering is this? This is an Offer for Subscription. DPRP is creating and selling new shares to the public, and the money raised goes directly to the company to fund its expansion plans.
  3. What is the share price? ₦525.00 per share. This is a fixed price - every investor pays the same amount.
  4. How many shares are being offered? 4,100,000,000 ordinary shares.
  5. How much is DPRP raising? ₦2,152,500,000,000 (Two Trillion, One Hundred and Fifty-Two Billion, Five Hundred Million Naira).
  6. When does the IPO open and close? The IPO opens on 14 September 2026 and closes on 13 October 2026.
  7. What will the money raised be used for? The proceeds will partly fund DPRP's expansion programme. See page 156 of the Prospectus for full details.
  8. Is the offer Shariah-compliant? Yes. The offer has been assessed by Buraq Capital Limited (the appointed Shariah Adviser) and has received certification from CBN's Financial Regulation Advisory Council of Experts (FRACE). Investment in the offer shares is permissible under Shariah principles.


How to Buy the Dangote Petroleum Refinery & Petrochemicals IPO on Moniepoint


  1. Can I buy DPRP shares on the Moniepoint app? Yes. You can subscribe to the DPRP IPO directly on the Moniepoint app.
  2. Navigate to the Investments section
  3. Select the Dangote IPO offer
  4. Enter the number of shares you want to purchase
  5. Review your order, and confirm with your transaction PIN. Payment is debited from your Moniepoint wallet.
  6. Can I buy shares through a Moniepoint POS agent? Yes. A Moniepoint POS agent can purchase shares on your behalf using the Buy for Others feature. The agent will enter your BVN, account details, select the offer, and process the subscription. The payment is debited from the agent's Moniepoint wallet. You will receive a printed receipt from the POS terminal.
  7. What do I need before I can subscribe on Moniepoint? You need:
  8. A Moniepoint account with sufficient wallet balance
  9. A BVN
  10. If you do not yet have a CSCS account or CHN, one will be created for you during onboarding on the Moniepoint app.
  11. What is the minimum number of shares I can buy? The minimum is 10 shares. Additional shares must be in multiples of 10 (e.g. 10, 20, 50, 100). At ₦525.00 per share, the minimum investment is ₦5,250.00.
  12. Is there a maximum number of shares I can buy? Yes. Maximum subscription limits are defined per investor category. These are displayed on the offer detail screen in the app before you confirm your order.
  13. How is my total calculated? Total Amount = ₦525.00 x Number of Units. This is calculated automatically in the app as you enter your unit count.
  14. Will I receive a receipt? Yes. A transaction receipt is displayed in the app after a successful subscription. It includes your reference ID, investor ID, CSCS number, CHN, offer details, units, total amount paid, and broker information. You can share or download the receipt, and it is also accessible from your transaction history at any time.


Allotment and Settlement


  1. Does subscribing guarantee I will receive shares? No. Allotment is subject to the outcome of the offer. If the IPO is oversubscribed, you may receive fewer shares than you applied for. DPRP can absorb up to 30% more shares than originally offered (subject to SEC approval), but beyond that, shares will be distributed proportionally.
  2. When will I know how many shares I received? DPRP will publish an Allotment Announcement after the SEC approves the Basis of Allotment. The exact timeline follows the Indicative Timetable in the Prospectus.
  3. When will shares be credited to my CSCS account? Within 15 business days after the SEC clears the Basis of Allotment.
  4. What happens if I am not allotted shares? Any unused portion of your payment will be refunded to your bank account within 5 business days of the allotment outcome.
  5. What happens after allotment? Once your CSCS account is credited and DPRP is officially listed on the NGX, you can buy or sell shares through a registered stockbroker. Moniepoint will notify you in-app when your subscription status changes. Chapel Hill Denham Securities will also contact you directly with updates on your allotment and share crediting.
  6. Where will DPRP shares be traded after listing? On the Main Board of the Nigerian Exchange (NGX). Once listed, you can buy or sell DPRP shares through any registered stockbroker.


Dividends and Returns


  1. Will I receive dividends? Dividends depend on the company's profitability, cash flow, and the Board's decision at the time. There is no guaranteed dividend payment date. If dividends are declared, they may be paid in US Dollars or Naira.
  2. How else can I benefit from this investment? If the share price increases after listing, you can sell your shares on the NGX at a profit through a stockbroker. Share prices can also fall, so this is not guaranteed.
  3. Is there a retail investor incentive programme? Yes, subject to all required approvals. Retail investors who are allotted at least 10 shares and maintain that holding for 12 months from the allotment date will receive 1 free Incentive Share. Maintaining the holding for a further 12 months earns 1 additional Incentive Share. The maximum is 2 Incentive Shares per investor. If you sell your shares below the minimum holding during the qualifying period, you lose eligibility and cannot restore it.


Risks


  1. Is this investment risky? Yes. All share investments carry risk. You could lose some or all of the money you invest. Share prices move up and down based on company performance, market conditions, and global events. Only invest money you can afford to hold for the long term.
  2. What are the main risks? Key risks include: changes in global crude oil prices; currency fluctuations between the US Dollar and the Naira; risks related to the expansion programme (delays, cost overruns, financing); competition from other refineries; and potential changes to the free zone tax benefits the company currently enjoys.
  3. Does the SEC's approval mean it is a safe investment? No. The SEC reviews the Prospectus to ensure it meets regulatory requirements, but does not endorse or recommend the shares. The investment decision is yours to make.


Taxes


  1. Will I pay tax on dividends? Yes. Withholding tax of 10% is deducted at source on dividends. A reduced rate of 7.5% may apply for investors in countries with a Double Taxation Agreement with Nigeria. Consult a tax adviser for guidance specific to your situation.
  2. Will I pay tax if I sell my shares at a profit? Capital gains tax rules may apply depending on the nature of the transaction and your investor status. Please consult a tax adviser for personalised guidance.



More Information


  1. Where can I get the full Prospectus? Download it from refinery.dangote.com or obtain a copy from any of the Issuing Houses or Receiving Banks listed in the Prospectus.
  2. Who are the key parties in this IPO?
  3. Lead Issuing House: Vetiva Advisory Services Limited
  4. Registrar: Coronation Registrars Limited
  5. Auditor: Deloitte & Touche
  6. Reporting Accountant: KPMG Professional Services


If you have questions about your subscription on the Moniepoint app, please contact our support team via any of our support channels.


For questions about the offer itself, allotment, or the Prospectus, contact any of the Issuing Houses or Receiving Banks listed in the Prospectus, or visit refinery.dangote.com.