Dangote Predicts Refinery Shares Will Rise from N525 to N10,000, Raises Petrol Gantry Price to N1,350

Aliko Dangote, President of Dangote Industries Limited, predicted that shares of Dangote Petroleum Refinery could rise in value from N525 to N10,000 in the future. Dangote emphasized that retail investors seeking to purchase shares worth N50,000 or N100,000 would receive priority over larger institutional investors during the refinery's Initial Public Offering (IPO).

The N525 share price could potentially increase substantially, with Dangote foreseeing a future value of N10,000 per share. This increase would result in significant gains for investors, such as an N50 million return on a N5 million initial investment. While shareholders could choose to receive dividends in either naira or dollars, the dollar option would benefit those with financial obligations abroad, such as parents with children studying in the United Kingdom.

The Dangote Refinery IPO consists of 4.1 billion ordinary shares priced at N525 each, with a full subscription expected to raise approximately N2.15 trillion. The minimum subscription is 10 shares, costing N5,250, and the offer is scheduled to run from September 14 to October 13, 2026. In addition, Dangote Petroleum Refinery increased the petrol gantry price to N1,350 per litre, a 6.7 percent rise from N1,265 per litre.

The coastal price was also increased to N1,783,530 from N1,669,543, representing a 6.8 percent increase. The refinery directed customers with existing loading arrangements to return their Automated Truck Certificates for repricing, as the adjusted prices could lead to increased acquisition costs for marketers and potentially higher pump prices.