Dangote Refinery shares could rise to N10,000 – Dangote

Aliko Dangote, President of Dangote Industries Limited, anticipates that shares of the Dangote Petroleum Refinery, which are priced at N525 during their Initial Public Offering (IPO), could increase to N10,000 in value.
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In an interview conducted in Hausa and later translated, Dangote highlighted the advantages for small-scale investors, stating they would receive priority in the allocation of shares ahead of larger institutional investors. He assured that retail investors purchasing shares worth N50,000 and N100,000 would be prioritized in the distribution process, with remaining shares allocated to other investors.

Dangote emphasized that, should a small investor acquire shares worth N5 million, the eventual rise to N10,000 could bring their investment to N50 million, underscoring the wealth creation potential of these shares. Additionally, he outlined the benefits of dividends paid in either naira or dollars, which would offer protection against the devaluation of the naira, particularly for Nigerians with international financial commitments.

He referenced the significant depreciation of the naira, illustrating the financial strain it has caused, especially for families with children studying abroad. To mitigate future currency shocks, he reiterated the option for shareholders to choose their dividends in dollars, reaffirming the strategic advantage of investing in the refinery shares.

The IPO consists of 4.1 billion ordinary shares priced at N525 each, aiming to raise an estimated N2.15 trillion. The offering period runs from September 14 to October 13, 2026. After the closing of the offer, there will be a processing phase, where applications will be evaluated, and investors will be notified regarding their allotments. It is important to note that applying for shares does not guarantee the allocation of the entire requested amount, especially in case of oversubscription. Following the allotment, the shares will be listed on the Nigerian Exchange Main Board, where their market price will be influenced by demand and supply dynamics.

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