President of Dangote Industries Limited, Aliko Dangote, has projected that shares of the Dangote Petroleum Refinery, currently offered at ₦525 in its ongoing public offer, could surge to ₦10,000 over the long term, while assuring that small-scale retail investors will receive preferential allotment.
Speaking in Hausa during an interview with Abis Fulani, Dangote explained that retail participants acquiring blocks as modest as ₦50,000 and ₦100,000 would be shielded from dilution, taking precedence over institutional players when the order books close.
“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,” Dangote said. “The big institutional investors who request large allocations will not get everything they ask for, but the small retail investors who want to buy ₦50,000 worth, or some buying ₦100,000 worth, are the ones who will be given priority allocations.”
The public offering, which opens September 14 and runs through October 13, 2026, comprises 4.1 billion ordinary shares pegged at ₦525 per unit, targeting approximately ₦2.15 trillion in fresh equity capital. The issue sets an entry threshold of 10 shares priced at ₦5,250.
Highlighting the long-term capital appreciation outlook, the industrialist noted that a ten-fold surge in the share value would transform modest retail entries into substantial wealth.
“As I was saying, this share, if you look at it, we are currently at ₦525,” he stated. “A day will come when this share will reach ₦10,000. Therefore, if you hold it, having bought it, and it rises to ₦10,000, where you previously invested ₦5m, it will now be worth over ₦50m.”
To safeguard local investors against persistent foreign exchange volatility, the company confirmed that shareholders will have the option to receive their dividend distributions in either naira or United States dollars.
Dangote pointed to the historical currency slide from ₦400 to ₦1,800 against the greenback, stressing that a hard-currency yield provides a financial hedge for parents servicing offshore commitments, particularly those funding foreign tuition.
Proceeds from the capital raise are earmarked to fund the refinery’s capacity expansion from its initial 650,000–700,000 barrels per day footprint to 1.4 million barrels per day, before the equity lists on the Main Board of the Nigerian Exchange.
