Nigerians have rushed to buy shares in Aliko Dangote’s oil refinery, turning the sale into a major social-media event. The IPO matters because it has broadened public participation in one of Africa’s largest industrial projects and offered people hope of improving their finances amid economic difficulties.

More than four billion shares, representing just over 3% of the company, were offered, with a minimum purchase of 10 shares costing about $4 (£3). Strong demand briefly crashed investment apps, while younger Nigerians embraced the opportunity despite warnings that refinery disruptions, regulatory changes, supply problems and weaker demand could reduce the shares’ value.