President of Dangote Group, Aliko Dangote. Photo: Arise News
The President of Dangote Group, Aliko Dangote, has said investors applying with N50,000 and below will receive priority in the Dangote Refinery initial public offering as the company seeks to widen participation in the share sale.
Dangote stated this during the final leg of the nationwide IPO roadshow in Port Harcourt, Rivers State, where investors, financial market experts, business leaders and other stakeholders gathered to discuss the offering.
“We will prioritise people with 50,000 and below,” Dangote stated, according to a Wednesday statement by the Dangote Group.
He said the IPO offered Nigerians an opportunity to become shareholders in the refinery, which he described as a major industrial project built on Nigerian soil.
According to him, international and African investors had already committed substantial capital to the refinery, but the public offering would allow Nigerians to participate directly in its ownership.
“African investors have invested in this refinery. Now it is time for Nigerians to invest in themselves and participate in a project that is creating value, jobs and opportunities for generations to come,” he said.
Dangote also encouraged prospective shareholders to adopt a long-term investment perspective, saying participation in the IPO could provide opportunities for wealth creation and portfolio diversification.
He added that wider participation in the stock market would deepen financial literacy, promote a savings and investment culture, and help Nigerians understand how businesses create value and contribute to economic growth.
At the event, an economist, Bismarck Rewane, highlighted the economic potential of the South-South region and the need to translate its resource endowment into sustainable prosperity, infrastructure development and improved living standards.
Rewane also said the IPO presented an opportunity to deepen Nigeria’s capital market by encouraging citizens to participate actively in wealth creation.
Similarly, a financial expert, Muda Yusuf, outlined the refinery’s potential impact on economic diversification, domestic value addition, energy security, capital formation and employment generation.
Yusuf said the refinery’s contribution extended beyond petroleum processing to sectors such as petrochemicals, packaging, manufacturing, logistics and other downstream industries.
He also stressed the importance of policy consistency, regulatory stability and sustained stakeholder engagement in maintaining investor confidence and attracting long-term capital into Nigeria’s industrial sector.
Yusuf described the refinery as an example of domestic value addition, noting that its local content and industrial linkages could increase its contribution to the Nigerian economy.
The discussions also highlighted the importance of sound monetary policy, affordable financing and a predictable business environment in supporting investment-led growth and industrial expansion.
Business leader Paul Usoro expressed satisfaction with the participation of investors from the South-South region.
“My joy is to see the South-South well represented,” Usoro said, stressing the importance of ensuring that investors from the region took advantage of the IPO.
The Port Harcourt engagement marked the final stop of the nationwide roadshow, which was organised to raise awareness of the public offering and encourage wider participation in the refinery’s ownership.