As of 2:30pm on September 15, 2026, ₦9.25 million had been subscribed through the onchain market for the Dangote Petroleum Refinery IPO. Buyers now hold 17,618 shares roughly 2.3% of the 761,905 tokens minted so far, according to Afriflux’s live dashboard.
Gross buys have reached 142, of which 105 positions are still held. Sellbacks total ₦363,900, or 3.8% of gross value, spread across 8 trades. NectarFi accounts for 79.1% of net shares subscribed, drawn from 72 buyers.
Solana continues to carry the larger share of activity. Of 91 buys tracked on that chain against 51 on Base, Solana holds 64.1% of buys in view. Afriflux notes that Solana opened nearly eight hours before Base did and that each chain sells from its own vault, so the split reflects where buyers chose to subscribe rather than how the offer itself was divided between the two networks.
Hour by hour, the dashboard shows 26 tracked periods with 23 of them active, a mean subscription rate of ₦355,800 per hour, and a peak of ₦1.84 million at 9pm on September 14.
Momentum has been uneven rather than one directional. Across the most recent 25 periods, gains outnumbered declines 12 to 13, the median swing was 2.7%, and the strongest single-hour gain, 11%, came at 1pm on September 15.
Yahaya Muhktar, founder of Afriflux, told Condia new wallets accounted for a significant number of shares bought so far.
“The new wallets hold about 93% of the shares bought through NectarFI,” he said.
Muhktar put the updated figures at 56 of 72 NectarFi wallets created less than 48 hours before their first DPRI purchase, with 54 of those within 24 hours, against just 14 wallets older than 30 days.
He linked the pattern directly to how NectarFi onboards users. “That pattern is consistent with people signing up to NectarFI specifically for this offering, since NectarFI creates a wallet for each user,” he said. “We can’t tell if those people have a CSCS account or have bought through GetEquity or a stockbroker anyways, or are new to equities altogether; it’s not visible onchain.”
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Muhktar was careful to separate what Afriflux can verify. “Whether each token corresponds to a real share held in custody, whether the two chains’ supplies represent one allocation or two, and who bears the loss if tokens and shares ever diverge are all offchain legal questions.”
“On Solana, the issuer can still mint more DPRI and freeze accounts, and transfers pass through a hook contract. On Base, the sale contract is upgradeable and administered by a 2 of 3 multisig. On September 15, that multisig moved 80,000 DPRI out of the vault and returned it the same morning.”
Asked about regulatory clearance, Muhktar said, “What we can offer regulators, issuers and the public is the same thing we offer everyone, a trade-by-trade record of what’s actually happening onchain. That way, the figures being discussed are independently verifiable, not just claimed.”
He also clarified that the eight recorded sellbacks should not be interpreted as secondary-market activity. The transactions were sellbacks to GetEquity’s own sale vault at the same fixed ₦525 price, rather than shares changing hands between investors. As of the morning of September 15, AfriFlux had not recorded a DPRI trading pool or any wallet-to-wallet transfers outside the initial sale.
The sellbacks were also highly concentrated. Of 148 trades recorded by 12:05 UTC on September 15, eight were sellbacks, representing 3.8% of the total value purchased. One wallet accounted for 93% of the value sold back, having bought 645 shares and returned all of them roughly three hours later.
Muhktar said AfriFlux would not speculate on what happens when DPRI begins trading on the Nigerian Exchange. Instead, the platform plans to track whether sellbacks increase once NGX trading opens, whether a secondary market develops for the token and how closely the onchain price tracks the listed price.
DPRI is also the first tokenised offering AfriFlux has measured, meaning there is not yet enough historical data to establish how its onchain trading activity compares with other offerings.
Last updated: September 15, 2026
