Dangote Predicts Refinery Shares Could Surge to N10,000

Aliko Dangote, President of Dangote Industries Limited, has projected that shares of the Dangote Petroleum Refinery, currently priced at N525, could appreciate to N10,000 in the future. During an interview, he emphasized that small-scale investors would receive priority in the allocation of shares during the refinery's Initial Public Offering (IPO).

Dangote stated that retail investors seeking smaller allocations would be favored over large institutional investors, who may not receive the full volume of shares they request. He illustrated potential gains by explaining that an investment of N5 million could grow to over N50 million if the share price rises to N10,000.

Additionally, he mentioned that shareholders would have the option to receive dividends in either naira or dollars, which could protect against currency depreciation. This option is particularly beneficial for Nigerians with financial commitments abroad, helping them avoid exchange rate shocks.