Africa’s richest man, Aliko Dangote, has urged investors to take a long-term view of the Dangote Petroleum Refinery’s landmark Initial Public Offering (IPO), rather than seeking quick profits.
Speaking in an exclusive interview with ARISE News’ Ojy Okpe, Dangote said an investment of about ₦100,000 could potentially grow to ₦1 million within one or two years, depending on the refinery’s performance and share-price appreciation.
He also suggested that the shares could eventually rise to ₦5,000, ₦10,000 or even higher.
The IPO offers 4.1 billion shares at ₦525 per share, targeting approximately ₦2.15 trillion in capital. Investors can subscribe to a minimum of 10 shares for ₦5,250.
Dangote highlighted the refinery’s dollar-linked revenues and potential dollar dividends as possible benefits for investors seeking protection against naira depreciation.
Describing the offer as a “People’s IPO,” Dangote said his ambition was to attract up to 10 million shareholders, particularly ordinary Nigerians.
He said the goal was to create an opportunity for families and future generations to build wealth through investment in the refinery.
