Paddy Adenuga Sparks Buzz Over Dangote's IPO Shares

On September 23, Paddy Adenuga, the son of telecoms billionaire Mike Adenuga, shared a photo with Africa's richest man, Aliko Dangote, on social media, prompting a flurry of reactions. He asked his followers, "Have you bought your shares?" This post coincided with the launch of the Dangote Petroleum Refinery and Petrochemicals' Initial Public Offering (IPO) on September 14, 2026.

The IPO aims to raise approximately ₦2.15 trillion by selling around 4.1 billion ordinary shares at ₦525 each, with a minimum purchase of 10 units. The subscription period is open until October 13, 2026, and trading on the Nigerian Exchange is anticipated to commence in late November 2026.

The post was interpreted as a playful reference to the IPO and highlighted the close ties between the Adenuga and Dangote families, two influential dynasties in Nigeria. The response to the post included a mix of humor and genuine interest in the share offering.