"Mother of All Stocks": Ooni Hails Dangote for Making IPO Accessible to Low-Income Earners
- The Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, spoke at the Dangote Petroleum Refinery IPO bell-ringing ceremony at the NGX in Lagos
- The traditional ruler praised the offer's accessibility, noting that low-income earners could participate with as little as N5,250 for 10 shares
- The Ooni painted a vivid picture of everyday Nigerians investing in the refinery and declared himself proud to be a black man at this milestone
- In a chat with Legit.ng, a forex trader shared his take on Aliko Dangote's IPO
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The Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, turned heads at the Nigerian Exchange Group (NGX) headquarters in Lagos on Monday, 14 September 2026, when he described the Dangote Petroleum Refinery's Initial Public Offering as the "mother of all stocks," a phrase that has since taken on a life of its own online.
Speaking during the formal bell-ringing ceremony marking the refinery's public offer launch, the monarch addressed the gathering of executives and dignitaries under the event's "Facts Behind The Offer" banner, co-branded with the Dangote Petroleum Refinery and NGX logos.
Source: Instagram
Oba Ogunwusi framed the IPO not merely as a financial instrument but as a landmark moment for Africa and the black race. He emphasised his presence at the event as a symbol of grassroots advocacy, positioning himself as a bridge between high-level corporate Nigeria and ordinary citizens.
In his address, the Ooni painted a particularly memorable image of what financial inclusion could look like in practice. He envisioned a scenario where a pepper seller wraps up her day's trade, pockets her N5,000 earnings, and immediately uses her phone to purchase Dangote shares.
“I am looking forward to a day when an average pepper seller can finish selling his or her pepper for ₦5,000, pick up a phone, and buy Dangote shares with ease," Ooni said.
Source: UGC
In related news, Legit.ng reported that the Ooni was spotted at a church with Lagos governorship candidate Obafemi Hamzat.
Watch the Ooni of Ife's full remarks at the Dangote Petroleum Refinery IPO bell-ringing ceremony below:
Reactions to Ooni's comment
The clip quickly spread across social media, drawing a mix of amusement, admiration, and scepticism. Here are some reactions on Twitter:
@WESTZEUS2 commented:
"Mother of all stocks ke. Haba Kabiesi, no naww"
@NUGWA_1 wrote:
"Does this man know what he his Saying? Which one is I'm very proud to be a black man for the very first time ahh lol nawa oo"
@Hidden4rmTruth said:
"Rich people know how to whine poor man... No be only mother of all stocks... Na father.."
@AdeolaJose shared:
"I bought 10 unit already 😎"
@MoshoodAjao1 noted:
"This man speaks real good."
People need to understand how the market operates
According to a forex trader, Hakeens Forex, adequate knowledge about how the securities market works is needed.
"Before investing your hard-earned money in a stock, ask questions, seek knowledge of how the securities exchange market works. People need to understand it is a long-term investment and a fast way to make money," he said.
Ooni holds ceremony for twins
Legit.ng previously reported that the ancient city of Ile-Ife became the centre of royal celebration as the Ooni and his queen, Her Majesty Queen Mariam Ajibola Ogunwusi, marked the arrival of their newborn twin princes with a grand traditional naming ceremony at the Ooni's Palace.
Queen Mariam welcomed the twin boys in May 2026, and the formal homecoming and naming ceremony drew a large gathering of dignitaries, well-wishers, security personnel, and photographers to the palace grounds in Ile-Ife, Osun State.
The video from the ceremony also made waves online as supporters celebrated with the king and his queen.
Source: Legit.ng
