Aliko Dangote Predicts Massive Surge in Refinery Shares From ₦525 to ₦10,000 Ahead of IPO
- Aliko Dangote predicted that the Dangote Refinery share price will rise from ₦525 to ₦10,000, turning a ₦5 million investment into over ₦50 million
- Dangote made the claim in an interview posted on X on Saturday, September 12, 2026, days before the IPO opens to the public
- The offering, which Dangote described as 'The IPO for the People', is structured to allow Nigerians to invest from as little as ₦5,250
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Legit.ng journalist Victor Enengedi has over a decade's experience covering energy, MSMEs, technology, banking and the economy.
Aliko Dangote, President and Chief Executive Officer of Dangote Industries Limited, has projected a significant increase in the value of Dangote Refinery shares, saying the stock could eventually rise from its proposed offer price of ₦525 to ₦10,000 per share.
Dangote made the prediction during an interview with Abis Fulani, published on X (formerly Twitter) on Saturday, September 12, 2026, in a post shared by Imran Muhammad.
Source: UGC
Using the projection, Dangote said an investor who puts ₦5 million into the shares at the current offer price could see the investment rise to more than ₦50 million if the stock eventually reaches ₦10,000.
Dangote said:
“The share now is ₦525. This share will one day become ₦10,000. So if you buy and it becomes ₦10,000, and you put in ₦5 million, it becomes ₦50 million plus.
"You have become rich, and there is no need to sell. You don’t have to fear devaluation. You can choose dividend in naira or in dollars.”
IPO designed to attract ordinary Nigerians
The comments come days after Dangote unveiled details of the refinery’s proposed Initial Public Offering (IPO) at a signing ceremony in Lagos on Monday, September 7.
Under the proposed offer, investors can subscribe to a minimum of 10 ordinary shares for ₦5,250, based on the ₦525 price per share.
Dangote said the offering was structured to give small investors, including people who can afford ₦50,000 or ₦100,000, an opportunity to secure shares before the remaining allocation is distributed.
He also expressed optimism that investors could benefit from future share-price appreciation and dividends. According to him, shareholders could potentially receive dividends in either naira or dollars, giving investors another way to protect the value of their holdings.
₦2.15 trillion could be raised from IPO
The proposed sale involves 4.1 billion shares at ₦525 each. If the offer is fully subscribed, it could generate approximately ₦2.15 trillion, potentially making it one of the biggest transactions ever recorded in Nigeria’s capital market.
Dangote has repeatedly described the offering as “The IPO for the People,” saying its purpose is to allow ordinary Nigerians and other Africans to participate in the refinery’s growth.
Source: Getty Images
He said the relatively low entry requirement was intentional, with workers such as drivers, cooks, domestic staff and managers among those expected to have access to the investment opportunity.
The highly anticipated IPO is scheduled to open for public subscription on Monday, September 14, 2026, and is expected to attract significant attention from investors and potentially boost activity and market capitalisation on the Nigerian Exchange.
Source: Legit.ng
