Aliko Dangote has sparked fresh excitement among investors over the planned Dangote Refinery IPO. The Dangote Industries Limited president said the shares could rise sharply in value. The shares currently sell at N525 each.
However, Dangote believes they could eventually hit N10,000. He made the statement during a Hausa interview with Abis Fulani. Google Gemini translated the interview into English. The interview gained attention after its publication on Thursday.
For small investors, there is another reason to pay attention. Dangote said retail investors would get priority during the share allocation. Investors buying N50,000, N100,000, or smaller amounts would come first. Large institutional investors may not receive their full requests if demand is high.
“The small retail investors who want to buy N50,000 worth, or some buying N100,000 worth, and so on, they are the ones who will be given priority allocations,” he said.
Dangote also explained why he believes the shares could become valuable over time.
“A day will come when this share will reach N10,000,” he said.
He gave an example involving a N5m investment. If the share reaches N10,000, that investment could be worth more than N50m. Investors may also choose to receive dividends in naira or dollars. According to Dangote, dollar dividends could help Nigerians manage foreign expenses and currency losses.
The IPO offers 4.1 billion ordinary shares at N525 each. A full subscription could raise about N2.15tn for the refinery. Investors can buy at least 10 shares for N5,250. The offer runs from September 14 to October 13, 2026. Afterward, the shares should list on the Nigerian Exchange Main Board.
However, N10,000 is only Dangote’s projection, not a guaranteed price. Market demand, company performance, refining margins, and economic conditions will affect the actual price. Meanwhile, Dangote plans to expand the refinery’s capacity to 1.4 million barrels.
