President of the Dangote Group, Aliko Dangote, said an investment of ₦100,000 in the company’s ongoing Initial Public Offering (IPO) could grow to ₦1 million within one or two years.
Naija News reports Dangote made the remark while responding to questions during an interview with Arise Television.
According to Dangote, the IPO investments could provide financial security for individuals with children studying abroad, especially if the naira devalues further.
He said investors could also benefit from dollar-denominated dividends, which could protect against naira depreciation.
He said, “At least what we are looking at, if you invest like something like maybe N100,000 naira, you know, within one year, two years or so, you are talking about you becoming a millionaire.
“So, you be collecting money, and if at a point when you have your kids studying abroad, even if there is devaluation of the currency of the naira, you are safe.
“Yes, you are safe because you are dividend you be collecting in dollars.”
Meanwhile, Securities and Exchange Commission (SEC) has warned Nigerians taking part in the ₦2.15 trillion Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals to be careful of fraudsters.
The warning came as the much-anticipated share offer opened on Monday, September 14, 2026, attracting strong interest from retail and institutional investors.
In a public notice signed by its management, SEC confirmed that it had approved the public offer but urged investors to make applications and payments only through authorised receiving agents, approved subscription platforms and designated channels.
The Commission advised prospective investors to get information about the offer only from its official channels, the issuer’s authorized communication platforms and other approved sources.
It also asked investors to verify the authenticity of websites, links and digital platforms before submitting their personal or financial details.