Dangote: N525 Refinery shares could hit N10,000

President of Dangote Industries Limited, Aliko Dangote, has said shares of the Dangote Petroleum Refinery, currently priced at N525 each, could rise to N10,000 in the future, according to a report by Vanguard.

Speaking in an interview with Abis Fulani, Dangote assured small-scale investors that they would be prioritised over large institutional investors in the allocation of shares during the Initial Public Offering (IPO).

He said an investor holding N5 million worth of shares could see their investment grow to over N50 million if the share price rises as projected.

Dangote added that shareholders could choose to receive dividends in either naira or dollars, a measure he said would protect investors from currency devaluation, particularly those with financial obligations such as children studying abroad.

The Dangote Refinery IPO comprises 4.1 billion ordinary shares priced at N525 each, with a full subscription expected to raise about N2.15 trillion. The offer runs from September 14 to October 13, 2026.