Ooni Calls Dangote IPO the "Mother of All Stocks"

On 14 September 2026, Oba Adeyeye Enitan Ogunwusi, the Ooni of Ife, praised the Dangote Petroleum Refinery's Initial Public Offering (IPO) as the "mother of all stocks" during a bell-ringing ceremony at the Nigerian Exchange Group (NGX) headquarters in Lagos. He addressed executives and dignitaries at the event, which was co-branded with the refinery and NGX logos, under the theme "Facts Behind The Offer." The Ooni framed the IPO as a pivotal moment for Africa and the black race, advocating for grassroots financial inclusion.

He illustrated this vision by describing a scenario where a pepper seller could invest her daily earnings of N5,000 into Dangote shares using her phone. His remarks resonated widely on social media, generating a mix of reactions.

The event marked a significant milestone in making investment opportunities accessible to low-income earners.