President of the Dangote Group, Aliko Dangote, has said that an investment of ₦100,000 in the ongoing Initial Public Offering (IPO) of Dangote Petroleum Refinery could grow to ₦1 million within one or two years.
Dangote made the projection while fielding questions on Arise Television, where he outlined the potential returns awaiting investors in the ₦2.15 trillion share offer.
He explained that the investment could offer financial security to Nigerians with children studying abroad, particularly as a hedge against further naira devaluation, since returns would come as dollar-denominated dividends.
“At least what we are looking at, if you invest like something like maybe N100,000 naira, you know, within one year, two years or so, you are talking about you becoming a millionaire,” Dangote said.
He added: “So, you be collecting money, and if at a point when you have your kids studying abroad, even if there is devaluation of the currency of the naira, you are safe. Yes, you are safe because your dividend you be collecting in dollars.”
Meanwhile, the Securities and Exchange Commission (SEC) has cautioned Nigerians participating in the IPO to be wary of fraudsters seeking to exploit the high public interest in the offer.
The share sale, which opened on Monday, September 14, 2026, has attracted strong interest from both retail and institutional investors since it launched.
In a public notice, the SEC confirmed it had approved the offer but stressed that applications and payments should only be made through authorised receiving agents, approved subscription platforms, and designated channels.
The Commission further advised investors to source information about the offer strictly from its official channels and the issuer’s authorised communication platforms, and to verify the authenticity of any website, link, or digital platform before submitting personal or financial details.
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