The Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, has described the newly launched Initial Public Offering (IPO) of Dangote Petroleum Refinery as the “mother of all stocks,” while praising the initiative for promoting financial inclusion.
The monarch made the remarks on Monday, September 14, 2026, during the bell-ringing ceremony at the Nigerian Exchange Group (NGX) in Lagos.
Ogunwusi commended industrialist Aliko Dangote for setting an affordable entry point for investors, noting that ordinary Nigerians and low-income earners can participate in the refinery’s ownership.
The offering requires a minimum investment of N5,250 for 10 ordinary shares priced at N525 each, making it possible for more citizens to gain exposure to the refinery through the capital market.
The public offering comprises 4.1 billion shares valued at N2.15 trillion, making it the largest corporate IPO in Nigeria’s history.
During the ceremony, Dangote acknowledged the Ooni’s early support for the refinery project.
The businessman noted that the monarch played a role in resolving local community and cultural issues around the Ibeju-Lekki site, helping to create an environment that allowed construction of the refinery to proceed.
Source: The article provided
