President of Dangote Industries Limited, Aliko Dangote, has said investors who buy and hold shares in Dangote Petroleum Refinery and Petrochemicals could potentially become millionaires within one or two years if the company’s share price records significant growth.

Dangote made the statement during an interview with Arise TV while discussing the refinery’s initial public offering on the Nigerian Exchange.The refinery’s shares are being offered at N525 each.

Dangote expressed optimism that the share price could rise to between N5,000 and N10,000, depending on market conditions.He said an investment of N100,000 could potentially grow to more than N1 million within one or two years if the share price reaches the projected levels.

Dangote also advised investors against selling their shares prematurely, saying shareholders could benefit from dividends over time.

According to him, dollar-denominated dividends could also help investors protect their wealth against naira depreciation, particularly those with financial obligations abroad.

The N2.15tn initial public offering comprises 4.1 billion ordinary shares offered at N525 per share. The minimum subscription is 10 shares, valued at N5,250.

The offer opened on September 14, 2026, and is scheduled to close on October 13, 2026, subject to the terms contained in the prospectus. It is open to retail, institutional and eligible African investors.

Dangote described the offering as a “People’s IPO,” saying it would give Nigerians, including teachers, artisans, civil servants and students, an opportunity to become part-owners of the refinery.

He also disclosed that the refinery generated approximately N19.47tn in revenue in the first half of 2026, while profit after tax stood at N2.55tn.At the offer price of N525 per share, the refinery has an implied market capitalisation of about N65.22tn.