Emir Sanusi Tells Nigerians What to Do About Dangote Refinery Shares
- Emir of Kano Muhammadu Sanusi II has urged Nigerians to invest in the Dangote Refinery IPO and become shareholders in the multi-billion-dollar project
- He said the IPO could help Nigerians build long-term wealth, create jobs and increase local ownership of major industrial assets
- Sanusi also described the refinery as a landmark project that could reduce Nigeria’s dependence on imported petroleum products
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Legit.ng journalist Victor Enengedi has over a decade's experience covering energy, MSMEs, technology, banking and the economy.
The Emir of Kano, Muhammadu Sanusi II, has called on Nigerians to take advantage of the Dangote Petroleum Refinery and Petrochemicals Limited’s initial public offering (IPO) and become shareholders in the multi-billion-dollar facility.
Sanusi made the appeal on Thursday while speaking at the Dangote Refinery’s “People’s IPO” sensitisation roadshow in Kano.
Source: UGC
The former Central Bank of Nigeria (CBN) governor described equity investment as an avenue for Nigerians to build long-term wealth while participating directly in the growth of major businesses and industries.
Sanusi highlights Kano’s investment culture
The monarch said Kano’s long-standing tradition of commerce, entrepreneurship and investment puts residents in a strong position to participate in the capital market.
Sanusi said he had followed the development of the Dangote Group from its early years and described the refinery as the fulfilment of a longstanding ambition to produce locally the petroleum products needed by Nigeria’s large population.
He encouraged Nigerians to direct their investments towards productive businesses that create jobs, generate value and contribute to economic growth instead of concentrating mainly on speculative ventures or assets outside the country.
According to him, the IPO gives Nigerians an opportunity to acquire an ownership stake in one of Africa’s major industrial projects.
“It is the shareholders who own it. It is the shareholders who take the returns. It is the shareholders who own the profits,” he said.
Emir advises investors to think long term
While encouraging Nigerians to participate in the offering, Sanusi urged prospective investors to approach the opportunity responsibly.
He cautioned people against investing money needed for essential family responsibilities and advised shareholders to maintain a long-term outlook when considering equity investments.
The Emir said broader participation in the capital market could help expand financial inclusion, create wealth and increase Nigerians’ ownership of major industrial assets.
He added that greater investment in productive enterprises would help channel domestic savings into activities capable of supporting economic development.
Sanusi speaks on refinery’s economic impact
Sanusi described the Dangote Refinery as a landmark investment with the potential to reshape aspects of Nigeria’s economy, particularly the country’s long-standing dependence on imported petroleum products despite being one of Africa’s major crude oil producers.
Source: Twitter
He also highlighted the facility’s growing significance in the international energy market.
The former CBN governor cited reports that European airlines had sourced aviation fuel from the refinery during supply disruptions linked to the Strait of Hormuz crisis.
Sanusi said developments such as these demonstrated the potential importance of the refinery to Nigeria’s energy security and its position in the global petroleum market.
Source: Legit.ng
