Dangote Predicts Refinery Shares Surge Ahead of IPO
Aliko Dangote, President and Chief Executive Officer of Dangote Industries Limited, projected a significant increase in the value of Dangote Refinery shares, estimating they could rise from the proposed offer price of ₦525 to ₦10,000 per share. This prediction was made during an interview with Abis Fulani on September 12, 2026.
Dangote explained that an investment of ₦5 million at the current offer price could potentially grow to over ₦50 million if the stock reaches ₦10,000. The refinery’s Initial Public Offering (IPO) was unveiled on September 7, 2026, allowing investors to subscribe to a minimum of 10 shares for ₦5,250.
The offering aims to include small investors, with a low entry requirement of ₦50,000 or ₦100,000. The IPO is set to open for public subscription on September 14, 2026, and could generate approximately ₦2.15 trillion if fully subscribed, making it one of Nigeria's largest transactions.
Dangote described the offering as “The IPO for the People,” emphasizing accessibility for ordinary Nigerians.
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