Businessman and President of the Dangote Group, Aliko Dangote, has said Nigerians who invest N100,000 in the company’s ongoing Initial Public Offering (IPO) could potentially see their investment grow to N1 million within one or two years.
Dangote made the statement during an interview with Arise Television while discussing the ongoing public offer and its potential benefits to investors.
According to the billionaire industrialist, investors could also benefit from dividends paid in US dollars, which he said could provide some protection against the impact of further naira depreciation.
Dangote added that investing in the company could offer financial security to individuals with children studying abroad, particularly if the naira experiences additional devaluation.
Dangote 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.”
The comments come amid the ongoing IPO of the Dangote Petroleum Refinery and Petrochemicals, which is seeking to broaden public ownership of the multibillion-dollar industrial project.
Dangote’s remarks are likely to draw attention from prospective investors as the company seeks greater participation from Nigerians in the ownership of the refinery.
