The Emir of Kano, Muhammadu Sanusi II, has urged prospective investors in the Dangote Refinery Initial Public Offering (IPO) to approach the investment with a long-term mindset rather than seeking quick profits.
Speaking at the refinery’s IPO investor roadshow in Kano on Thursday, Sanusi cautioned residents against committing essential funds or selling personal assets to purchase shares.
He advised investors to use only money they could comfortably set aside, suggesting that people could start with amounts such as ₦10,000, ₦20,000 or ₦30,000.
Sanusi said the objective should be to build long-term ownership in the refinery rather than buy shares today and expect immediate returns.
> “I’m not talking about someone who will buy N5,000 shares and want to sell tomorrow and believe he will get N10,000,” he said.
The Emir also encouraged Kano residents to take advantage of the IPO to participate in Nigeria’s capital market, stressing that shareholders, regardless of where they live, can own a stake in a company.
According to him, the refinery’s location in Lagos should not discourage Kano residents from investing, as ownership rests with shareholders.
Sanusi further described Aliko Dangote as a son of Kano and urged residents not to miss the opportunity to potentially become shareholders in one of the country’s major industrial projects.
The Dangote Refinery IPO opened on September 14, with investor engagement activities being held across different parts of Nigeria.
Sanusi also called on labour unions and other organised groups to educate their members about the capital-market opportunity and the importance of financial inclusion.
