(Peter Obi. Photo by Arise News)
Peter Obi, former Anambra governor and NDC presidential candidate, has encouraged Nigerians to buy shares in the Dangote Petroleum Refinery IPO, saying it aligns with his vision of shifting the country from consumption to production.
Speaking on social media, Obi said many Nigerians at home and abroad had asked his opinion on the offering.
He praised Aliko Dangote’s commitment to building productive capacity in Nigeria’s economy and called on other businesses to follow suit by going public and giving citizens a stake in industrialization.
The refinery IPO opened September 14, offering 4.1 billion shares at N525 each with a minimum buy-in of 10 shares for N5,250.
The offering is expected to raise roughly N2.15 trillion if fully subscribed and closes October 13.
Dangote has framed it as a people’s IPO aimed at creating millions of shareholders among Nigerians and eligible investors.
The Securities and Exchange Commission warned prospective investors to use only official channels for applications and payments, and to review the prospectus carefully before deciding.
The regulator noted that share values can rise or fall after listing and dividends are not guaranteed.
