The Emir of Kano, Muhammadu Sanusi II, has advised prospective investors in the Dangote Refinery Initial Public Offering (IPO) not to sell their homes or use their children’s school fees to purchase shares.
Sanusi gave the warning on Thursday during the Dangote Refinery IPO investor roadshow in Kano.
The Emir urged residents to invest only money they could comfortably set aside for the long term, suggesting that investors could start with amounts such as ₦10,000, ₦20,000 or ₦30,000.
“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 cautioned.
He encouraged investors to take a long-term approach rather than buying shares in the hope of making quick profits.
According to him, investors should be prepared to leave their money invested for several years and allow the value of their investment to potentially grow over time.
Sanusi also encouraged Kano residents to participate in the capital market and acquire a stake in the refinery, which was founded by Nigerian businessman Aliko Dangote.
Speaking about the refinery’s location, the Emir said its ownership was determined by its shareholders rather than where the facility was situated.
He urged trade unions and other groups to educate their members about the IPO and encourage responsible participation in the capital market.
Sanusi also highlighted the refinery’s operations, including its production of refined petroleum products and fertiliser, as well as its contribution to direct and indirect employment.
The Dangote Refinery IPO opened on September 14, 2026, as part of efforts to broaden public participation in the ownership of the company.
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