₦100,000 Investment Could Make Investors Millionaires in Two Years — Dangote

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 rises significantly.

Dangote made the statement during an interview with Arise TV on Tuesday while discussing the refinery’s initial public offering on the Nigerian Exchange.

The refinery’s shares are being offered at ₦525 each, with Dangote expressing optimism that the share price could eventually rise to between ₦5,000 and ₦10,000, depending on market conditions.

Asked whether he expected the offer price to rise to about ₦10,000, Dangote responded, “I pray so, yes.”

When asked whether he was making a prediction, he said the share price could reach that level, depending on market conditions, adding that he had seen shares listed at ₦100 rise to ₦1,000.

“But our own, it will get to maybe 5, 10,000, you know. So, at least what you are looking at, if you invest something like maybe ₦100,000, you know, within one year, two years or so, you are talking about becoming a millionaire,” Dangote said.

His projection is dependent on the refinery’s share price rising substantially from the current IPO price and is not a guarantee of investment returns.

Dangote also urged investors not to sell their shares prematurely, saying shareholders could benefit from dividends over time.

“So, why do you want to sell it? You remain there, you will be collecting money,” he said.

He further said investors could receive dividends in dollars, which he argued could provide protection against naira depreciation.

“And, at a point when you have your kids studying abroad, even if there is devaluation of the currency, you are safe,” he said. “You are safe because your dividend, you will be collecting in dollars.”

The Dangote Refinery IPO opened on September 14, 2026, with 4.1 billion ordinary shares offered at ₦525 per share, giving the offer a total value of about ₦2.15 trillion.

The minimum subscription is 10 shares, valued at ₦5,250. The offer is scheduled to close on October 13, 2026, subject to the terms contained in the prospectus.

The offer is open to retail, institutional and eligible African investors.

Dangote has described the IPO as an opportunity for Nigerians, including teachers, artisans, civil servants and students, to become part-owners of the refinery.

He also disclosed that the refinery generated approximately ₦19.47 trillion in revenue during the first half of 2026, while profit after tax stood at about ₦2.55 trillion.

At the offer price of ₦525 per share, the refinery is expected to have an implied market capitalisation of about ₦65.22 trillion.

Dangote also said the refinery listing would form part of a broader plan to take other operating companies within the Dangote Group to the Nigerian Exchange.

According to him, the group intends to list its operating companies in the future, while using Nigeria and Africa as its base for potential dual listings on other global exchanges.

The businessman described the refinery IPO as an opportunity for Nigerians and other investors to participate in the growth of a major industrial asset.

Meanwhile, Bloomberg reported that Dangote’s personal fortune could rise to as much as $58.2 billion following the IPO, representing an increase of about $22.9 billion from an estimated $35.3 billion, according to the Bloomberg Billionaires Index.

Dangote said the broader objective of the IPO was to give Nigerians and other investors an opportunity to participate in the refinery’s growth and ownership.