ACF Educates Kano Residents on Dangote Refinery IPO

The ACF (Arewa Consultative Forum) organized a campaign in Kano to inform residents about the Dangote refinery IPO, held on a Saturday. The initiative aimed to help prospective investors understand the share purchase process and counter misinformation circulating on social media regarding the refinery's profitability.

Dr Goni Umar Farouk, President of the ACF Kano State chapter and leader of the Shareholders Association, refuted claims that the refinery was operating at a loss, citing financial records that indicated the refinery generated $1.82 billion in the first half of the year and reported a revenue increase from N9.38 trillion in 2024 to N18.74 trillion in 2025, with a profit after tax of N2.5 trillion. The ACF's campaign intends to continue educating residents about the IPO process, encouraging them to rely on verified information.

Investors like Sa’a Umar and Iliya Ado expressed appreciation for the program, which helped alleviate their concerns about participating in the IPO.