Dangote Industries Limited President Aliko Dangote says investors who buy and hold shares in Dangote Petroleum Refinery and Petrochemicals could become millionaires within one or two years if the share price rises.
Speaking on Arise TV on Tuesday, Dangote said the N525 offer price could rise to between N5,000 and N10,000, depending on market conditions.
Asked if he expected N10,000, he said, “I pray so, yes.” He added, “Yeah, it can get up to that, you know, depending on where, you know. I’ve seen shares listed at 100; they go to 1,000.”
He said, “But our own, it will get to maybe 5, 10,OOO, you know. So, at least what you are looking at, if you invest something like maybe N100,000, you know, within one year, two years or so, you are talking about becoming a millionaire.”
The IPO opened on September 14 at N525 per share, with 4.1 billion shares on offer and a N2.15tn value. The minimum is 10 shares, worth N5,250, while the offer closes October 13.
Dangote urged investors to hold their shares for dividends, saying, “So, why do you want to sell it? You remain there, you will be collecting money,” and noted that dollar dividends could protect investors from naira depreciation.
He said the refinery made N19.47tn revenue and N2.55tn profit after tax in H1 2026. Its implied market value is N65.22tn.
