Get Guardian on GoogleNigerian billionaire businessman, Aliko Dangote, has predicted that the Dangote Refinery shares will rise from the planned Initial Public Offering (IPO) price of ₦525 to ₦10,000.
Dangote disclosed this in an interview with Abis Fulani, with the clip shared by @Imranmuhdz in a post on his official X account on Saturday morning.
He explained that investors and shareholders could turn a ₦5 million investment into over ₦50 million while highlighting dividend payouts in naira or dollars.
“Those small investors who want to buy with ₦50,000 or ₦100,000 will get approval first, then the rest will share,” Dangote said.
“The share now is ₦525. This share will one day become ₦10,000. So if you buy and it becomes ₦10,000, and you put in ₦5 million, it becomes ₦50 million plus.
“You have become rich, and there is no need to sell. You don’t have to fear devaluation. You can choose your dividend in naira or in dollars.”
Dangote Refinery’s IPO opens September 14 to October 13, 2026, offering 4.1 billion shares at ₦525 each with a minimum subscription of 10 shares (₦5,250) to enable broad retail participation from ordinary Nigerians.
The promotion aligns with the company’s push to fund refinery expansion to 1.4 million barrels per day, following recent profitability and a private placement that was heavily oversubscribed.
