KANO, Nigeria — The Emir of Kano, Muhammadu Sanusi II, has warned prospective investors against selling their homes or using their children’s school fees to purchase shares in the ongoing Dangote Refinery Initial Public Offering.
Speaking on Thursday, September 17, 2026, at the Dangote Refinery Initial Public Offering investor roadshow in Kano, Muhammadu Sanusi II urged residents to invest only discretionary funds that can be set aside over a long period. Okay News reports that Muhammadu Sanusi II advised prospective investors to consider setting aside amounts such as N10,000 ($6.10 USD), N20,000 ($12.20 USD), or N30,000 ($18.30 USD) rather than seeking quick short-term profits.
Addressing attendees at the outreach event, Muhammadu Sanusi II stated, “Do not take your children’s school fees and put in shares, Do not sell the house that you live in and put in shares.” He added, “But what you can afford,10,000, 20,000, 30,000, what you can afford to set aside for some time, set it aside. And if you look at the fundamentals of the economy, over time you can be assured that this investment will grow, and you will not regret it.”
The investor outreach forms part of the public offer for the refinery founded by Aliko Dangote, which opened on September 14, 2026. Muhammadu Sanusi II encouraged local participation in the capital markets, urging union representatives and community leaders to educate their members on financial inclusion and shareholding opportunities.
Emphasizing the long-term nature of equity investments, Muhammadu Sanusi II stated, “And I’m not talking about someone who will buy 5,000 shares and want to sell tomorrow and believe he will get 10,000. No, I’m talking about you have some money, put it in, leave it there for some time, and just watch your money grow.” He added, “Forget about it for some time. You’ll be surprised in five years the 10,000 Naira you invest today, what it will be. The 100,000 Naira you invest, what it will be.”
Regarding concerns over physical infrastructure locations, Muhammadu Sanusi II stated, “It doesn’t matter where the refinery is located. It could be located in Lagos, or Ibadan, or on the moon. It is the shareholders who own it.” He added, “It is the shareholders who own it. It’s the shareholders who take the return. It is the shareholders who own the profit.”
Muhammadu Sanusi II noted that prospective shareholders can inspect the tangible operational assets of Dangote Refinery, which include refined petroleum product facilities, fertilizer manufacturing plants, secured gas supply lines, port access infrastructure, and established commercial markets.
