Aliko Dangote, President of Dangote Industries Limited, has stated that shares of the Dangote Petroleum Refinery, presently offered at N525, could eventually climb to N10,000. He emphasized that small-scale investors aiming to participate in the refinery’s Initial Public Offering (IPO) would be prioritized in share allocation.
Speaking in Hausa during an interview with Abis Fulani, translated by Google Gemini, Dangote explained the IPO process and its benefits for retail investors. The interview highlighted his assurance that individuals investing N50,000, N100,000, or similar modest sums would be given preference over large institutional buyers.
Dangote remarked, “In an IPO, priority is given to small-scale investors first. Institutional investors requesting large allocations will not receive everything they ask for, but retail investors seeking smaller amounts will be prioritized.” He added that remaining shares would later be distributed among other applicants.
On share value, Dangote projected a significant rise from the current N525, suggesting it could reach N10,000. He explained, “If you buy at N525 and it rises to N10,000, an investment of N5m would become worth over N50m. That is how wealth is created.”
He also noted that shareholders could opt to receive dividends in either naira or dollars, a flexibility designed to shield investors from currency depreciation. This option, he said, would be particularly beneficial for Nigerians with obligations abroad, such as parents funding education in the United Kingdom. Dangote recalled the naira’s sharp depreciation from N400 to N1,800 per dollar, stressing that dollar dividends could help families avoid such shocks.
