Nigeria, Sept. 14 -- Dangote Refinery, which kicked off its Initial Public Offering (IPO) on Monday morning, attracted billions of naira within minutes of opening from thousands of investors, Aigboje Aig-Imoukhuede, the chair of Nigeria's biggest lender, Access Holdings, said at the Facts Behind the Figures at the Nigerian Exchange (NGX) in Lagos.

"With this particular, sterling, historic offer and what I have seen in the data room, where already billions of naira have been subscribed by thousands of investors within minutes or under an hour, you are a blessing to humanity, said Mr Aig-Imoukhuede, a one-time chairman of the bourse.

The IPO is out to raise $1.6 billion across Africa, with ten million shareholders targeted. It runs from 1...