Aliko Dangote, President of Dangote Industries Limited, has said an investment of about N100,000 in Dangote Petroleum Refinery and Petrochemicals could potentially make an investor a millionaire within one or two years if the company’s shares record significant growth.
Dangote made the statement during an interview with Arise News while discussing the refinery’s initial public offering (IPO) and the opportunities it could create for Nigerians seeking to invest in the business.
The billionaire businessman encouraged investors to view the refinery’s shares as a long-term investment rather than an opportunity for quick profits. He expressed optimism that the company’s share price could rise substantially as the refinery expands its operations and strengthens its position in the petroleum and petrochemical industries.
The shares are being offered at N525 each under the public offering, which comprises 4.1 billion ordinary shares. The offer is expected to raise approximately N2.15 trillion.
Dangote reportedly projected that the share price could eventually rise to between N5,000 and N10,000, depending on the company’s performance and prevailing market conditions.
At the N525 offer price, an investment of N100,000 would purchase approximately 190 shares, excluding transaction costs. If the shares eventually reached N5,000 each, those shares would be worth about N950,000. At N10,000 per share, they would be worth approximately N1.9 million.
However, these figures are illustrations based on the projected prices and do not represent guaranteed returns. Share prices can rise or fall, and investors may lose part or all of their investment.
The Dangote Refinery IPO opened on September 14, 2026, and is scheduled to close on October 13, 2026, subject to the terms of the offer. The minimum subscription is 10 shares, valued at N5,250.
The public offering is aimed at expanding public ownership of the refinery and allowing retail and institutional investors to acquire a stake in one of Africa’s largest industrial projects.
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