KANO, Nigeria — The Emir of Kano, Muhammadu Sanusi II, warned prospective investors on September 17, 2026, against selling personal assets or using money meant for essential household needs to purchase shares in the Dangote Refinery Initial Public Offering.
Golden Info reports that Muhammadu Sanusi II issued the warning in Kano, Nigeria, during an investor roadshow for the ongoing capital market offering, advising residents to invest only discretionary funds ranging from N10,000 ($6.70 USD) to N30,000 ($20.10 USD) that they can set aside over a long-term horizon.
Addressing attendees at the outreach event, the traditional leader emphasized that prospective buyers should avoid using funds reserved for children’s school fees or selling their residential properties to enter the stock market. The investor roadshow forms part of a public awareness campaign for the Dangote Refinery capital raise, which officially opened on September 14, 2026.
Sanusi called on community members, trade unions, and representative groups across Kano State to pursue financial inclusion and participate in the offering to secure equity in the company established by industrialist Aliko Dangote. The former central bank governor urged investors to adopt a multi-year growth perspective, suggesting that commitments of N10,000 ($6.70 USD) or N100,000 ($67.00 USD) should be retained for at least five years to observe capital appreciation.
The monarch clarified that the physical location of the facility in Lagos State does not restrict ownership, noting that corporate returns and profits accrue directly to equity holders regardless of geographical operations. He highlighted that the operational assets of the complex encompass petroleum refining, fertilizer manufacturing, secured gas supply arrangements, port access, and established distribution markets.