President of Dangote Industries Limited, Aliko Dangote, has said investors who buy and hold shares in Dangote Petroleum Refinery and Petrochemicals could potentially become millionaires within one or two years if the company’s share price rises significantly.
Dangote made the statement while discussing the refinery’s initial public offering on the Nigerian Exchange. The shares are being offered at N525 each, with Dangote saying the price could potentially rise to between N5,000 and N10,000, depending on market conditions.
He said an investment of about N100,000 could potentially grow to N1 million if the share price reaches those levels, while advising investors not to sell prematurely because of the potential for dividends.
The N2.15tn IPO comprises 4.1 billion ordinary shares at N525 each, with a minimum subscription of 10 shares valued at N5,250. The offer opened on September 14 and is scheduled to close on October 13, 2026.
Dangote said the refinery generated about N19.47tn in revenue in the first half of 2026, with profit after tax of N2.55tn.
He described the IPO as an opportunity for Nigerians and other investors to become part owners of the refinery and said the Dangote Group plans to list more of its operating companies in the future.
Director-General of the APC Presidential Campaign Council, Abdul’aziz Yari, has urged Northerners to support President Bola Tinubu’s bid for re-election in 2027. Yari made the call on Monday during a visit to the palace of the Oba of Lagos, Oba Riliwanu Akiolu, in Lagos. He said Tinubu deserved the support of the North because he backed former President Muhammadu Buhari’s 2019 presidential bid, despite pressure within the APC for him […]
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