President of Dangote Industries Limited, Aliko Dangote, has said shares of the Dangote Petroleum Refinery, currently being offered at N525 each, could increase significantly in value and potentially reach N10,000 in the future.
Dangote also assured small-scale investors interested in the refinery’s Initial Public Offering (IPO) that they would receive priority when the shares are allocated.
He made the remarks in Hausa during an interview with Abis Fulani, where he discussed the proposed IPO and what investors could gain from participating in the offer.
According to Dangote, retail investors who want to purchase smaller quantities of shares would be prioritised ahead of large institutional investors.
He said, “When you do something like this — what is called an IPO — all the small-scale investors are the ones who will be given priority first.”
He added, “The big institutional investors who request large allocations will not get everything they ask for. But the small retail investors who want to buy N50,000 worth, or some buying N100,000 worth, and so on, they are the ones who will be given priority allocations.”
Speaking about the possible increase in the value of the shares, Dangote said investors could record substantial gains if the price rises after the refinery is listed.
He said, “As I was saying, this share, if you look at it, we are currently at N525. A day will come when this share will reach N10,000.”
Explaining what such an increase could mean for investors, he said, “Therefore, if you hold it, having bought it, and it rises to N10,000, where you previously invested N5m, it will now be worth over N50m.
“You see, you have become wealthy,” he said.
Dangote also disclosed that shareholders would have the option of receiving dividends in either naira or dollars, saying the dollar option could help protect investors against the effects of currency depreciation.
He said, “The benefit of buying it is that holding this share will not prevent you from carrying out your regular work.
“You hold this share, and when dividends are paid, you won’t need to fear currency devaluation,” he added.
According to him, “you can choose to receive your dividend in Naira or in Dollars.”
He explained that receiving dividends in dollars could be particularly beneficial to Nigerians who have financial commitments outside the country.
“If you have a child studying at a school in England, for example, even if there is economic instability or currency devaluation—may God protect us—having this means what you receive is in Dollars,” he said.
Dangote also recalled the significant depreciation of the naira and its impact on families with children studying abroad.
He said, “Your child won’t have to avoid exchange rate shocks, like when rates moved from N400 up to N1,800.”
He added, “Most children were brought back home as a result. So, what we want to prevent is that kind of situation.”
The Dangote Refinery IPO consists of 4.1 billion ordinary shares priced at N525 each. If fully subscribed, the offer is expected to raise about N2.15 trillion, while the minimum subscription of 10 shares will cost N5,250.
The offer is scheduled to run from September 14 to October 13, 2026.
Source: Abis Fulani
