The Emir of Kano, Muhammadu Sanusi II, has warned prospective investors against committing essential funds including children’s school fees or the family home to buying shares in the ongoing Dangote Refinery public offer.
Speaking on Thursday at the Dangote Refinery IPO investor roadshow in Kano, the traditional ruler urged residents to invest only disposable income they could comfortably set aside for the long term, rather than chase quick returns through speculation.
He suggested modest, manageable amounts — ₦10,000, ₦20,000 or ₦30,000 — as a safer entry point than high-stakes bets.
“Do not take your children’s school fees and put in shares. Do not sell the house that you live in and put in shares,” Sanusi said.
“But what you can afford — 10,000, 20,000, 30,000 — what you can afford to set aside for some time, set it aside. And if you look at the fundamentals of the economy, over time you can be assured that this investment will grow, and you will not regret it.
“I speak as the Emir of Kano; I would like my people to be owners of this company. I do not want us to be left behind in the capital markets. I do not want us to be left behind in financial inclusion. So this is the time and this is the opportunity.”
The Emir also cautioned against short-term speculation, advising investors to take a patient, long-term view instead.
“I’m not talking about someone who will buy 5,000 shares and want to sell tomorrow and believe he will get 10,000. No, I’m talking about you have some money, put it in, leave it there for some time, and just watch your money grow.
“Forget about it for some time. You’ll be surprised in five years [what] the 10,000 naira you invest today [will be]. The 100,000 naira you invest, what it will be,” he said.
Sanusi also dismissed concerns over the refinery’s physical location, stressing that ownership and returns belong strictly to shareholders regardless of where the facility is sited.
“It doesn’t matter where the refinery is located. It could be located in Lagos, or Ibadan, or on the moon. It is the shareholders who own it. It’s the shareholders who take the return. It is the shareholders who own the profit,” he added.
The monarch praised Kano-born billionaire Aliko Dangote and urged residents to secure a stake in the company before the public offer window closes.
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