Aliko Dangote, President of Dangote Industries Limited, has said the shares of Dangote Petroleum Refinery, being offered at N525 each, could potentially rise to N10,000 in the future.
Dangote also assured small-scale investors participating in the refinery’s proposed Initial Public Offering (IPO) that they would receive priority in the allocation of shares.
He made the remarks in Hausa during an interview with Abis Fulani, where he discussed the IPO and its potential benefits to investors.
According to Dangote, retail investors seeking smaller allocations would be prioritised ahead of large institutional investors.
He said investors seeking to purchase shares worth N50,000 or N100,000, for example, would receive priority, while institutional investors requesting large allocations might not receive their full requests.
Dangote also highlighted the potential for capital appreciation, saying the shares could eventually reach N10,000.
He explained that an investor who purchased shares worth N5 million at N525 per share could see the value of the investment rise to more than N50 million if the share price eventually reached N10,000.
The businessman further said shareholders could receive dividends in either naira or US dollars, describing the dollar option as a potential protection against the impact of naira depreciation.
He said the arrangement could particularly benefit Nigerians with financial obligations abroad, including parents paying school fees for children studying in countries such as the United Kingdom.
Dangote recalled periods when the naira depreciated sharply against the dollar, saying exchange-rate pressures had forced some families to reconsider sending their children abroad for education.
The Dangote Refinery IPO comprises 4.1 billion ordinary shares priced at N525 each. If fully subscribed, the offer is expected to raise approximately N2.15 trillion.
The minimum subscription is 10 shares at N5,250, while the offer is scheduled to run from September 14 to October 13, 2026.
