Sanusi Tells Nigerians to Buy Dangote Refinery Shares as IPO Roadshow Hits Kano

The Emir of Kano, Muhammadu Sanusi II, has urged Nigerians to buy into the Dangote Petroleum Refinery and Petrochemicals Limited's initial public offering and become part owners of the multi-billion-dollar plant.

Sanusi made the call on Thursday at the refinery's "People's IPO" sensitisation roadshow in Kano. The former Central Bank of Nigeria governor said equity investment is one way Nigerians can build long-term wealth while sharing directly in the growth of big businesses.

Ownership belongs to shareholders

Sanusi said Kano's long tradition of commerce, entrepreneurship and investment puts its residents in a strong position to take part in the capital market.

He said he had followed the Dangote Group from its early years and described the refinery as the fulfilment of a long-held ambition to produce locally the petroleum products Nigeria's large population needs.

"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.

The monarch encouraged Nigerians to push their money into productive businesses that create jobs and generate value, rather than concentrating mainly on speculative ventures or assets outside the country. According to him, the IPO gives Nigerians the chance to hold an ownership stake in one of Africa's major industrial projects.

A word of caution for investors

Sanusi backed participation in the offer but asked prospective investors to be responsible about it. He warned against putting in money needed for essential family responsibilities and advised shareholders to keep a long-term outlook on equity investments.

He said wider participation in the capital market could expand financial inclusion, create wealth and raise Nigerians' ownership of major industrial assets. More investment in productive enterprises, he added, would help channel domestic savings into activities that support economic development.

Refinery and the import bill

Sanusi described the Dangote Refinery as a landmark investment with the potential to reshape parts of Nigeria's economy, especially the country's long-standing dependence on imported petroleum products despite being one of Africa's major crude oil producers.

He also pointed to the plant's growing weight 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 such developments show what the refinery could mean for Nigeria's energy security and its place in the global petroleum market.

For Nigerian investors, the message from Kano is simple: the refinery's shares are now within reach of retail buyers, but the same caution applies as with any equity bet. Money that is needed soon does not belong in the capital market.