₦525 refinery shares may climb to ₦10,000, Dangote says

Aliko Dangote, President of Dangote Industries Limited, said shares of the Dangote Petroleum Refinery could rise from their current ₦525 to as much as ₦10,000, according to Vanguard.

Speaking in Hausa during an interview, Dangote said small-scale investors would be prioritised in the allocation of shares during the Initial Public Offering, ahead of large institutional investors. He said shareholders could opt to receive dividends in naira or dollars, describing this as protection against currency depreciation for investors with obligations abroad.

The IPO comprises 4.1 billion ordinary shares, with a full subscription expected to raise about ₦2.15 trillion. The offer runs from September 14 to October 13, 2026.