Billionaire Aliko Dangote said that applicants for shares worth 50,000 naira ($30) or less will get priority in the initial public offering (IPO) of the Dangote Refinery
He spoke in Port Harcourt, Rivers State, at the last stop of a nationwide roadshow, according to a statement from the Dangote Group.
“We will prioritise people with 50,000 and below,” Dangote said.
“Time for Nigerians to invest in themselves”
The industrialist called the offer a chance for Nigerians to become direct shareholders in a major industrial project built on Nigerian soil. He said international and African investors have already put significant capital into the facility.
“African investors have invested in this refinery. Now it is time for Nigerians to invest in themselves and participate in a project that is creating value, jobs and opportunities for generations to come,” he said.
Dangote urged would-be shareholders to think long term, saying participation could build wealth and diversify portfolios. Broader involvement in the stock market, he added, would also improve financial literacy and encourage saving and investment.
Experts weigh in
Economist Bismarck Rewane told the gathering the IPO was a chance to deepen Nigeria’s capital market and encourage citizens to share in wealth creation.
Financial expert Muda Yusuf pointed to the refinery’s potential to support economic diversification, energy security, capital formation and job creation beyond petroleum processing.
Business leader Paul Usoro welcomed the strong turnout from the South-South region. “My joy is to see the South-South well represented,” he said.
The Port Harcourt event closed the roadshow, which was organised to raise awareness of the public offering and encourage wider ownership of the refinery.
