•Stock will reach N10,000 one day, says Dangote

The Chartered Institute of Stockbrokers (CIS) and the Association of Securities Dealing Houses of Nigeria (ASHON) have welcomed the initial public offering of Dangote Petroleum Refinery and Petrochemicals Free Zone Enterprise as a significant development for Nigeria’s capital market and an opportunity for Nigerians to participate in the ownership of a strategically important national enterprise.

To make the offer available to more Nigerians, the offer is open for subscription via bank apps and trading platforms, including i-invest, PiggyVest and Bamboo.

The offer, which seeks to raise N2.15 trillion from investors, is set to become a major test of the Nigerian Exchange (NGX) primary market after more than seven years of limited activity in major IPO-backed new-company listings.

Dangote’s projection has added a major investment attraction to the offer as investors begin to take positions in what is expected to be one of the largest equity offerings in Nigeria’s capital market.

Dangote said investors who hold the shares over the long term would benefit from substantial capital appreciation as well as dividend payments.

Speaking in an interview with Abis Fulani at the weekend, Dangote said an investor who puts N5 million into the offer at N525 per share could see the value rise to more than N50 million if the share price eventually reaches N10,000.

“The share now is N525. This share will one day become N10,000. So, if you buy and it becomes N10,000, and you put in N5 million, it becomes N50 million plus,” Dangote said.

He also encouraged small investors to participate in the offer, saying those seeking to invest N50,000 or N100,000 would also have an opportunity to buy the shares, subject to the allocation process.

“Those small investors who want to buy with N50,000 or N100,000 will get approval first, then the rest will share,” he said.

Dangote further said shareholders would benefit from dividend payments in either naira or dollars, presenting the investment as a potential long-term hedge against the impact of naira depreciation.

“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,” he said.

The CIS and ASHON have advocated active investor participation in the Dangote Petroleum Refinery and Petrochemicals Free Zone Enterprise initial public offering (IPO), describing the offer as a major opportunity for Nigerians to take part in the ownership of one of the country’s most strategic businesses.

The bodies said the offer would deepen participation in the Nigerian capital market while providing investors with an opportunity to own shares in the refinery through any licensed stockbroker.

CIS and ASHON also encouraged retail and institutional investors, particularly those with a long-term outlook, to consider participating through the approved channels. The IPO is scheduled to open on 14 September 2026 at N525 per share, with a minimum subscription of 10 shares.

The two bodies noted that the refinery’s integrated refining and petrochemicals model, its scale and its role in domestic energy supply give the business strategic relevance to Nigeria. They added that the enterprise has the potential to support import substitution, foreign-exchange earnings, industrial development and greater economic participation through the capital market.

CIS and ASHON also clarified that all stockbroking firms licensed by the Securities and Exchange Commission (SEC) are accredited receiving agents for the offer.

They urged investors to feel free to approach and submit their applications through the stockbroker of their choice. This gives both existing and first-time investors access to professional guidance and the flexibility to participate through an intermediary they know and trust.

President of CIS, Dr Fiona Ahimie, said: “The proposed listing is a welcome development for Nigeria and for our capital market. The refinery combines a strong integrated business model with the scale and strategic importance required to contribute meaningfully to the country’s energy security and industrial growth. It also gives Nigerians an opportunity to participate in the ownership of an important national enterprise. Investors with a long-term outlook should consider being part of this opportunity.”

Ahimie added that the offer could help strengthen public participation in wealth creation and deepen understanding of how the capital market connects Nigerian savings with productive enterprise. She said the nationwide network of licensed stockbrokers is available to explain the offer process and help investors participate smoothly.

Chairman of ASHON, Sehinde Adenagbe, said: “Bringing an enterprise of this scale to the public market broadens participation, supports wealth creation and adds depth to Nigeria’s investment landscape. The stockbroking community welcomes the offer and is ready to support a seamless process so that investors across the country can take part.”