Dangote Refinery IPO better than selling PVC for N10,000, Rewane says

Economist Bismarck Rewane has urged Nigerians to invest in Dangote Refinery's IPO instead of selling their Permanent Voter Cards (PVC) for a quick financial gain. He explained that investing in the IPO could encourage low-income earners to shift from short-term consumption to long-term investment by becoming shareholders in one of the country's largest companies.

Rewane believes the IPO could turn a N5,000 share into as much as N300,000 in 2-3 years, with the actual figures available in the prospectus. He also highlighted that the refinery's revenue for the half-year was far greater than the Nigerian budget, making it a strong investment opportunity. Rewane further emphasized that attracting around 10 million investors in the IPO could mark a significant milestone for Nigeria's capital market.