Dangote says $75 could make investors millionaires in two years as Africa’s biggest IPO draws massive demand

During a recent viral interview, Dangote has revealed that an investment of ₦100,000 (about $76 USD) in the Dangote Petroleum Refinery could turn Nigerian investors into a millionaire within one to two years.

• Dangote stated that a ₦100,000 investment in Dangote Petroleum Refinery shares could turn investors into millionaires.
• The IPO offers 4.1 billion shares at ₦525 each, with a minimum entry of just 10 shares.
• Dangote encouraged investors to view the shares as a long-term investment for building family wealth.
• The refinery’s revenue model enables investors to receive dividends in foreign currency, protecting against devaluation.

Speaking with ARISE News anchor Ojy Okpe as the public offer opened, Africa’s wealthiest man urged buyers to hold their shares for the long haul rather than looking for a quick payout.

The company is offering 4.1 billion ordinary shares at ₦525 each, seeking to raise roughly ₦2.15 trillion between September 14 and October 13.

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To make participation accessible to everyday citizens, the minimum entry requirement is set at just 10 shares for ₦5,250. The company has also approved a 40 approved banks, fintechs and mobile operators where investors can buy refinery IPO shares.

Dangote also talked about the potential growth of the asset, he told ARISE News that, “If you invest like something like maybe ₦100,000, within one year, two years or so, you’re talking about you becoming a millionaire”.

Dangote says investors in Nigeria and other African nations can build long-term family wealth

Dubbed the “People’s IPO,” the initiative aims to draw in at least 10 million retail shareholders across the continent.

A key advantage for investors is the refinery’s dollar-linked revenue model, which allows shareholders to receive dividends in foreign currency to hedge against local currency devaluation.

Dangote noted, “At a point when you have your kids studying abroad, even if there’s devaluation of the currency of the naira, you are safe,”

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When asked if share prices could rise dramatically from ₦525 to ₦10,000 or higher, Dangote expressed optimism about future expansion while reiterating that the offering is designed for lasting financial security.

The billionaire business man explained that “This is not a share for somebody to just buy and go and sell it off tomorrow,” emphasizing that “you’re actually investing in the future of your family”.