Omanghana
The Emir of Kano, Khalifa Muhammadu Sanusi II, has defended the Dangote Petroleum Refinery’s Initial Public Offering, describing it as an opportunity to spread wealth and broaden public ownership of one of Nigeria’s major industrial assets.
Speaking during the “Kano Grand Homecoming” roadshow for the refinery’s public offer, Emir Sanusi said the listing would allow ordinary Nigerians to move beyond being consumers of petroleum products and become shareholders in the facility.
He explained that wider public participation would ensure that the profits and financial benefits generated by the refinery were shared among more Nigerians instead of remaining concentrated in the hands of a few investors.
The former governor of the Central Bank of Nigeria encouraged residents of Kano and other parts of the country to explore opportunities in the capital market.
According to him, greater grassroots participation in equity investment could strengthen local ownership of critical national infrastructure while advancing financial inclusion.
Emir Sanusi also responded to concerns raised by critics about the refinery’s growing influence within Nigeria’s petroleum market. He argued that individuals or companies seeking to challenge its position were free to mobilize the required capital and construct competing facilities.
He stressed that large-scale industrial development requires substantial financial investment, technical capacity and long-term commitment, rather than criticism alone.
Although he encouraged Nigerians to consider participating in the offer, the Emir advised prospective investors to act responsibly and maintain a long-term outlook.
He cautioned individuals against investing money required for immediate household needs, education, healthcare or other essential family obligations.
The public offer gives retail and institutional investors an opportunity to acquire shares in the multibillion-dollar refining facility.
The refinery has become an important part of Nigeria’s industrial and energy landscape, with expectations that its operations will support domestic fuel supply, reduce dependence on imported petroleum products and create opportunities across related industries.
Supporters of the IPO believe broader ownership could allow more Nigerians to benefit from the refinery’s growth while strengthening public participation in the country’s capital market.
Emir Sanusi said the offer represented more than a conventional investment opportunity, describing it as a chance for citizens to secure a direct stake in Nigeria’s industrial development.
Source: Omanghana
