President of Dangote Group, Aliko Dangote, has said Nigerians who invest ₦100,000 in the ongoing Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals could potentially see their investment grow to about ₦1 million within one or two years.
Dangote made the statement during an interview with Arise Television while discussing the opportunities available to Nigerians through the refinery’s share offer.
He said the investment could also provide a form of protection for investors against possible further depreciation of the naira.
According to him, investors could benefit from dividend payments denominated in dollars, which could be particularly useful to families with children studying abroad.
Dangote explained that investors who receive dollar-based dividends would have some protection if the naira loses value.
He said, “If you invest something like ₦100,000, within one year, two years or so, you are talking about becoming a millionaire.”
He added that investors could continue receiving dividends, noting that those with children studying abroad could benefit from dollar-denominated payments even if the naira depreciates.
Meanwhile, the Securities and Exchange Commission (SEC) has warned Nigerians participating in the ₦2.15 trillion Dangote Refinery IPO to be cautious of fraudsters.
The public offer opened on Monday, September 14, 2026, attracting interest from both individual and institutional investors.
In a public notice, the SEC advised investors to submit applications and make payments only through authorised receiving agents, approved subscription platforms and designated channels.
The Commission also urged prospective investors to obtain information about the IPO only through official SEC channels, authorised communications from the company and other approved sources.
Investors were further advised to verify websites, links and digital platforms before providing personal or financial information to prevent falling victim to fraud.
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