PiggyVest, Africa’s largest online savings and investment platform, has partnered with Chapel Hill Denham to make shares in the Dangote Petroleum Refinery and Petrochemicals IPO directly accessible to its 6.6 million registered users, extending the reach of Africa’s largest-ever equity offering into the digital savings ecosystem where millions of Nigerians already manage their money.
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What the partnership means for access
The collaboration gives PiggyVest users the ability to subscribe to the Dangote Refinery IPO directly within the platform they already use, without needing to open a separate stockbroking account or navigate the traditional capital market onboarding process. Chapel Hill Denham, one of the joint issuing houses for the transaction, structured the digital distribution specifically to broaden participation by routing the IPO through platforms where potential investors are already active.
Managing Director, Capital Markets at Chapel Hill Denham, Lanre Buluro, said the digital structure was designed to make the offering accessible to as broad a pool of Nigerians as possible, enabling prospective subscribers to complete their applications quickly through channels they trust and understand. A CSCS account is created automatically in under two minutes using a BVN and bank account number, removing the registration barrier that has historically excluded first-time equity investors from capital market participation.
PiggyVest co-founder and Chief Marketing Officer Joshua Chibueze said the company wants to simplify the process for Nigerians buying shares for the first time, framing the partnership as an extension of PiggyVest’s core mission to make wealth-building tools accessible to every Nigerian, not just those who already understand capital markets.
6.6 million PiggyVest users who already save and invest digitally represent exactly the population the Dangote Refinery IPO is trying to reach. The friction between “I want to buy shares” and “I have bought shares” has been the historical barrier to retail equity participation in Nigeria. PiggyVest’s integration removes that friction for millions of people simultaneously.
Read also: Dangote Refinery confirms October Nigeria IPO, rules out foreign listing for at least three years
The distribution ecosystem
PiggyVest is one of multiple digital platforms through which Nigerians can subscribe to the IPO. Moniepoint POS stations and the Moniepoint app, MTN MoMo, Airtel Money, Payaza, Paga, Bamboo, and Chapel Hill Denham’s own Invest Naija platform are all enabled as subscription channels. Together, these platforms cover a combined user base that spans the full range of Nigeria’s digitally active population, from sophisticated investors who already trade on the NGX to first-time savers who have never considered equity ownership before.
For the Nigerian capital market, the multi-platform distribution model of the Dangote Refinery IPO is as significant as the transaction size itself. If it successfully onboards hundreds of thousands or millions of new retail investors who go on to remain active participants in the market, it will have achieved something that policy initiatives and financial literacy campaigns have struggled to accomplish across many years: making equity ownership feel normal, accessible, and relevant to ordinary Nigerians.
