Dangote Predicts Refinery Shares to Soar to N10,000

Aliko Dangote, President of Dangote Industries Limited, announced that shares of Dangote Petroleum Refinery, currently priced at N525, could potentially rise to N10,000 in the future. He emphasized that small-scale investors would be prioritized in the Initial Public Offering (IPO) for share allocation, stating that those looking to invest smaller amounts, such as N50,000 or N100,000, would receive priority over larger institutional investors.

Additionally, Dangote revealed that the pump price of petrol has increased from N1,265 to N1,350 per litre, effective September 12, 2026. He explained that shareholders would have the option to receive dividends in either naira or dollars, which could help mitigate the effects of currency depreciation.

Dangote noted the significant depreciation of the naira against the dollar, highlighting the importance of this option for Nigerians with financial obligations abroad. He expressed that holding these shares would not interfere with regular work and could lead to substantial wealth accumulation.