Young Nigerian businessman, philanthropist and healthcare entrepreneur, Dr Adeniyi Oluwamuyiwa Kenneth, has urged Nigerians to look beyond the immediate profit potential of the Dangote Petroleum Refinery and Petrochemicals IPO and consider the opportunity to become shareholders in one of Africa’s major industrial projects.

The Dangote Refinery IPO opened to investors on September 14, with the company offering 4.1 billion shares at N525 per share. The offer is expected to raise about N2.15 trillion if fully subscribed, while the minimum subscription is 10 shares, valued at N5,250.

Reacting to the public offering, Dr Muyiwa described the development as significant for Nigeria’s capital market, saying it could provide an opportunity for ordinary Nigerians to participate in the ownership of a major industrial asset.

“This is bigger than simply asking whether the share price will go up tomorrow. Nigerians are being given an opportunity to participate in the ownership of an industrial asset that has the potential to influence our economy for decades,” he said.

He, however, cautioned prospective investors against making decisions based solely on the popularity of the Dangote brand or the widespread attention surrounding the IPO.

According to him, investors should study the business, understand the risks associated with equity investment and commit only funds they can afford to leave invested.

“People should not invest simply because everyone is talking about Dangote. Understand the business, understand the risks and invest according to your financial capacity,” Muyiwa said.

The entrepreneur also noted that the offering could contribute to a stronger investment culture among young Nigerians, particularly as more people seek alternatives to conventional savings.

The refinery’s expansion plans include increasing its processing capacity to about 1.4 million barrels per day by 2029, a development that could further strengthen its position in Nigeria’s energy and industrial landscape.

Kenneth said the IPO could encourage Nigerians to rethink their approach to wealth creation by participating in businesses rather than remaining solely consumers of their products and services.

“We need to move from being only consumers of major businesses to becoming investors and owners. The Dangote IPO can help more Nigerians begin to understand the power of ownership and long-term investing,” he said.

He further urged prospective shareholders to adopt a long-term approach rather than focus on short-term market movements.

“Whether you are investing N5,250 or N5 million, the principle is the same: don’t invest because of hype. If you need the money urgently, it is not the money to invest. This is not a Ponzi scheme; it is an investment in a business, and you should invest because you understand what you are buying and want to build an investment culture for yourself and those coming after you,” he said.

Dr Muyiwa added that broader participation in the capital market could help deepen Nigerians’ understanding of equity ownership while creating greater awareness about long-term investment and financial planning.