Post by Arise News (@arisenews)

As the Dangote Petroleum Refinery’s landmark IPO opens, Africa’s richest man, Aliko Dangote, has urged investors to see the offer as a long-term investment rather than a quick-profit opportunity.

In an exclusive ARISE News interview with 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 the shares could eventually reach ₦5,000, ₦10,000 or even higher.

With 4.1 billion shares offered at ₦525 each, the IPO seeks to raise about ₦2.15 trillion, with a minimum subscription of just 10 shares, or ₦5,250. Dangote highlighted the refinery’s dollar-linked revenues and potential dollar dividends as an added attraction for investors seeking protection against naira depreciation.

Calling it a “People’s IPO,” Dangote said his ambition is to attract up to 10 million shareholders, particularly ordinary Nigerians, and build wealth across families and generations.

Would you put ₦100,000 into Dangote Refinery?

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