Susan Abayomi
The Emir of Kano, Muhammadu Sanusi II, has urged Nigerians interested in the Dangote Petroleum Refinery and Petrochemicals Initial Public Offering (IPO) to invest responsibly and avoid putting essential household finances at risk.
Sanusi gave the advice on Thursday at an investor sensitisation roadshow for the Dangote Refinery IPO in Kano, where he urged prospective investors to commit only funds they could comfortably set aside for the long term.
The Emir specifically cautioned Nigerians against using their children’s school fees or selling their homes to purchase shares, stressing the importance of making investment decisions within their financial capacity.
He suggested that prospective investors could consider modest amounts such as ₦10,000, ₦20,000 or ₦30,000, provided such funds could be left invested for some time.
Sanusi also advised investors against approaching the share offer with expectations of making quick profits, encouraging them instead to adopt a long-term investment outlook.
He said Nigerians should consider becoming shareholders in the refinery while ensuring that participation in the capital market does not compromise their essential financial obligations.
The Emir further encouraged Kano residents to participate in the offer, describing Aliko Dangote as a son of Kano and urging the people of the state not to be left behind in capital-market participation and financial inclusion.
He also explained that the location of the refinery should not discourage prospective investors, noting that ownership of a company is determined by its shareholders rather than the location of its physical assets.
The Dangote Refinery IPO opened on September 14, 2026, with 4.1 billion ordinary shares offered at ₦525 per share. The minimum subscription is 10 shares, valued at ₦5,250, while the offer is scheduled to close on October 13, 2026, subject to the terms of the prospectus.
Sanusi’s comments came amid the ongoing nationwide investor outreach for the refinery’s public offering, which is seeking wider participation in the Nigerian capital market.
