Emir Sanusi Urges Nigerians to Invest in Dangote Refinery IPO

Emir of Kano Muhammadu Sanusi II has urged Nigerians to invest in the Dangote Petroleum Refinery's initial public offering, describing equity ownership as a pathway to long-term wealth creation while cautioning against reckless financial decisions. Speaking at a sensitisation roadshow in Kano on Thursday, the former Central Bank of Nigeria governor encouraged participation in the capital market but advised investors to use only funds they could afford to set aside. The IPO, which opened on September 14, offers 4.1 billion ordinary shares at 525 per share with a minimum subscription of 5,250. The offer is scheduled to close on October 13, 2026. Sanusi framed the offering as an opportunity for Nigerians to become part-owners of one of Africa's most significant industrial projects. "Do not take your children's school fees and put in shares. Do not sell the house that you live in and put in shares," Sanusi said. "But what you can afford, set it aside. And if you look at the fundamentals of the economy, over time you can be assured that this investment will grow, and you will not regret it.