Sanusi Warns Nigerians Before Buying Dangote Refinery Shares

The Emir of Kano, Muhammadu Sanusi II, has advised potential investors against risking essential funds such as their children's school fees or money from selling their homes to buy shares.

Speaking in Kano on Thursday during an investor roadshow for the Dangote Refinery Initial Public Offering (IPO), the former central bank governor urged residents to invest only discretionary funds they can afford to set aside for the long term, suggesting modest sums like N10,000, N20,000, or N30,000.

Sanusi emphasized that stock market investments require patience rather than expectations of quick, immediate profits.

 

He noted that while short-term flipping is risky, holding shares over five years could yield substantial growth given the strong economic fundamentals of the enterprise.

Addressing the crowd as the Emir of Kano, Sanusi encouraged local residents to build financial inclusion and take ownership stakes in the massive refinery venture founded by Kano-born industrialist Aliko Dangote.

 

He reassured potential investors that the physical location of the refinery in Lagos does not restrict who benefits, as company profits belong entirely to its shareholders regardless of where the plant operates.

Highlighting the refinery's operational assets including its production of refined petroleum, fertilizer, secured gas supplies, and port access Sanusi framed the public offering as a prime opportunity for everyday citizens to participate in one of the continent's major industrial projects.