Aliko Dangote, President of Dangote Industries Limited, said the Dangote Refinery shares, currently priced at N525, could eventually rise to N10,000.
Dangote also promised small-scale investors priority in the allocation of shares if they choose to participate in the refinery’s planned initial public offering (IPO).
He discussed the anticipated IPO and its potential benefits for investors in Hausa during an interview with Abis Fulani, which Google Gemini translated.
The interview was released on Thursday but gained widespread attention on Saturday.
Dangote said large institutional investors would not receive preferential treatment over ordinary investors seeking to buy shares worth N50,000, N100,000 or other smaller amounts.
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.
“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.”
He stated that investors would then receive the remaining shares.
Regarding the shares’ future value, Dangote said that the present price of N525 may rise significantly and eventually reach N10,000.
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.
“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.”
Dangote refinery shares
Dangote said shareholders could choose to receive their dividends in dollars or naira, arguing that the option could help investors manage the impact of currency depreciation.
The Dangote Refinery IPO comprises 4.1 billion ordinary shares priced at N525 each. The minimum subscription of 10 shares costs N5,250, while the offer could raise about N2.15 trillion.
The offer will run from September 14, 2026, to October 13, 2026.
After the offer closes, the company will process applications and notify investors of their share allotments. However, investors who apply for a specific number of shares may not receive the full amount requested, particularly if the offer is oversubscribed.
Backstory…
Recall that Aliko Dangote, President and Chief Executive of Dangote Industries Limited, announced on Monday that ordinary Nigerians will have the opportunity to buy Dangote refinery shares through its Initial Public Offering (IPO).
Dangote made the announcement at a signing ceremony in Lagos, describing the deal as an “IPO for the people” aimed at broadening public ownership of the massive industrial facility.
According to Dangote, the IPO will offer 4.1 billion ordinary shares at N525 each and is expected to raise slightly more than N2 trillion.
The N525 offer price does not guarantee a future market price or investment return, despite Dangote’s prediction that the shares could eventually reach N10,000.
The share price could rise or fall after listing depending on the company’s performance, investor sentiment, refining margins, demand and broader economic conditions.
The company plans to increase its refining capacity from about 650,000–700,000 barrels per day to 1.4 million barrels per day, with proceeds from the IPO expected to support the expansion.
Read Also: Drivers, cooks, traders can now own Dangote refinery shares- Aliko
