Dangote: Invest ₦100k In IPO, Become A Millionaire In 1–2 Years

President of the Dangote Group, Aliko Dangote, has said an investment of ₦100,000 in Dangote Refinery’s ongoing Initial Public Offering (IPO) could potentially grow to about ₦1 million within one or two years.

According to reports, Dangote made the statement during an interview with Arise Television while discussing the ongoing share offer and its potential benefits to investors.

He explained that the investment could provide a form of financial protection for individuals, particularly parents with children studying abroad, amid concerns over possible further depreciation of the naira.

Dangote also highlighted the potential benefit of dollar-denominated dividends, saying investors could receive dividends in foreign currency and therefore have some protection against the impact of naira devaluation.

“At least what we are looking at, if you invest like something like maybe ₦100,000 naira, you know, within one year, two years or so, you are talking about you becoming a millionaire,” Dangote said.

He added that such returns could become particularly valuable to families with children studying overseas, as the foreign-currency dividends could help cushion the effect of fluctuations in the naira.

Meanwhile, the Securities and Exchange Commission (SEC) has warned Nigerians participating in the ₦2.15 trillion Dangote Petroleum Refinery and Petrochemicals IPO to remain vigilant against fraudsters.

The warning followed the opening of the highly anticipated share offer on Monday, September 14, 2026, which has attracted interest from both retail and institutional investors.

In a public notice, the SEC confirmed its approval of the public offer and urged prospective investors to submit applications and make payments only through authorised receiving agents, approved subscription platforms and officially designated channels.

The commission’s warning is aimed at protecting investors from fraudulent schemes and unauthorised individuals seeking to exploit the high level of public interest surrounding the Dangote Refinery IPO.