Muhammadu Sanusi II advises cautious investment in Dangote Refinery IPO

Muhammadu Sanusi II, the Emir of Kano and former Governor of the Central Bank of Nigeria, has advised Nigerians to invest cautiously regarding the Dangote Refinery and Petrochemicals FZE initial public offering (IPO). Speaking at an IPO roadshow in Kano State, Sanusi urged prospective investors to avoid using essential funds for the investment.

He specifically cautioned against using children’s school fees or selling primary residences to purchase shares. Instead, he encouraged citizens to invest small, affordable amounts—such as 10,000, 20,000, or 30,000 Naira—that they can afford to set aside for the long term. Sanusi emphasized that the goal should be long-term growth rather than seeking quick profits, suggesting that disciplined, long-term investment in the refinery would yield significant returns over several years.