RismadarVoice Reporters
September 12, 2026
The President of Dangote Industries Limited, Aliko Dangote, has projected that shares of the Dangote Petroleum Refinery, currently being offered at N525 per share, could appreciate to as much as N10,000 in the future.
Dangote also assured small-scale investors participating in the refinery’s Initial Public Offering 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 proposed IPO and its potential benefits to investors.
According to Dangote, retail investors seeking relatively small allocations would be prioritised over institutional investors requesting larger volumes.
He explained that investors seeking to purchase shares worth N50,000 or N100,000 would receive priority, while institutional investors might not receive their full requested allocations.
Dangote said the potential increase in the value of the shares could deliver significant returns to investors.
He said a N5 million investment at the current offer price could be worth more than N50 million if the shares eventually rise to N10,000.
The businessman also highlighted the proposed dividend structure, saying shareholders would have the option of receiving dividends in either naira or US dollars.
He said the dollar-denominated option could help protect investors against the impact of naira depreciation, particularly Nigerians with financial commitments outside the country.
Dangote cited the sharp movement in the exchange rate from about N400 to the dollar to around N1,800 as an example of the financial pressure caused by currency depreciation.
The Dangote Refinery IPO involves 4.1 billion ordinary shares priced at N525 each. If fully subscribed, the offer is expected to raise about N2.15 trillion.
The minimum subscription is 10 shares, costing N5,250.
The offer is scheduled to open on September 14 and close on October 13, 2026.
