Aliko Dangote, President of Dangote Group, has said the Dangote Refinery Initial Public Offering, IPO at N525 per share could record a 1,804.76 percent increase to N10,000.
He made this disclosure during interview with Abis Fulani, while speaking on the benefits of Dangote Refinery’s IPO, slated to take off on September 14, 2026.
According to him, investors who invest N5 million in Dangote Refinery’s IPO at N525 per share may gain N45 million in profit if the company’s share price hits N10,000.
He explained that the 700,000-barrel-per-day refinery prioritises small investors rather than large-scale investors.
“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.”
“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,” he said.
His comments come as investors await the refinery’s listing on the Nigerian stock market.
The refinery, which debuted in May 2023, recorded revenue of about N19.47 trillion ($13.91 billion) and a Profit After Tax of roughly N2.55 trillion ($1.82 billion) in the first half of 2026.
