Elder statesman and businessman, Chief F.E. Ojugbana, has described the Dangote Petroleum Refinery and Petrochemicals Initial Public Offering (IPO) as a major boost for Nigeria’s capital market, urging citizens to seize the opportunity to invest in the country’s growing industrial base.
The IPO opened on September 14, offering 4.1 billion ordinary shares at N525 each, with a minimum subscription of 10 shares. The Securities and Exchange Commission (SEC) has approved the offer and cautioned investors to subscribe only through officially recognised channels.
Reacting to the wave of public interest in the offer, Ojugbana said it presented Nigerians with a chance to become stakeholders in enterprises driving the nation’s industrial growth.
With over five decades of experience in business development, management consultancy and institutional training, Ojugbana — Founder and Chairman of MADEC Associates — has advised government agencies, multinational firms and local businesses on enterprise growth and capacity building.
He encouraged Nigerians to also watch out for other credible investment opportunities within the Dangote Group and similar indigenous companies, provided such ventures match their financial standing and long-term goals.
The offer has drawn significant attention given the scale of the project, which Dangote has branded an “IPO for the people.” It is designed to widen ownership while raising funds to expand refining capacity from 700,000 to 1.4 million barrels per day.
Despite his optimism, Ojugbana cautioned intending investors to exercise financial discipline, stressing that equity investment is not without risk.
“Investment should be approached with optimism, but also with discipline. Opportunities will come, and where the fundamentals are understood and the investment suits your circumstances, Nigerians should be prepared to participate. But you invest what you can afford. You do not jeopardise your home, your children’s education or your immediate responsibilities in pursuit of an investment return,” he said.
His comments align with earlier remarks by the Emir of Kano, Muhammadu Sanusi II, who backed participation in the IPO but warned against selling homes or using school fees to buy shares, advising investors instead to commit only manageable sums with a long-term outlook.
Ojugbana added that broader ownership of major Nigerian companies could deepen financial inclusion and support long-term wealth creation as indigenous firms expand across Africa. He urged intending investors to carry out due diligence and fully understand the risks before subscribing.
The Dangote Refinery IPO is scheduled to close on October 13, 2026, subject to the terms in the offer documents.
READ ALSO:
- Trump Launches “Trump TV” as White House Bars CNN, MS NOW, Politico Over Coverage Dispute
- “Not A Threat, But A Promise” — IPOB Renews 2027 Election Boycott Threat Over Kanu
- Peter Mbah Appoints Nollywood Actress Rachael Okonkwo, 100 Others As Special Advisers, Aides
- Fuel Price: FG Summons Refiners, Marketers Over ₦1,450 Petrol
- Nigerian, Ghanaian-trained teachers barred from UK’s QTS route
