Africa’s richest businessman, Aliko Dangote, has made an ambitious projection about the earning potential of investors in the Dangote Petroleum Refinery, saying an investment of about ₦100,000 today could grow into more than ₦1 million within a few years.

Dangote made the remarks in an interview with ARISE News ahead of the official opening of the refinery’s highly anticipated Initial Public Offering (IPO), describing the investment opportunity as one designed to create long-term wealth for ordinary Nigerians and other African investors.

The billionaire industrialist urged prospective shareholders to view the refinery as a generational asset rather than a short-term trading opportunity, insisting that patient investors stand to benefit significantly as the company expands its operations and profitability.

The public offer, which opened on September 14, is expected to run until October 13 and involves the sale of 4.1 billion ordinary shares priced at ₦525 each. If fully subscribed, the offer could raise approximately ₦2.15 trillion, making it one of the largest capital market transactions in Nigeria’s history.

Speaking on the expected value of the shares, Dangote expressed confidence that investors who buy into the refinery now could see substantial growth in their investments over time.

“If you invest something like ₦100,000, within one year, two years or so, you’re talking about becoming a millionaire,” he said.

He argued that investors who focus on long-term ownership would benefit more than those seeking quick profits from buying and selling shares shortly after listing.

According to him, the refinery should be seen as a wealth-building platform capable of generating sustainable returns for families over many years.

“This is not a share for somebody to just buy and sell tomorrow. This is a future for anybody’s family. You’re actually investing in the future of your family,” he said.

Dangote also highlighted what he described as one of the refinery’s major attractions: its ability to generate foreign currency earnings.

Because part of the company’s revenue is linked to dollar-denominated transactions, he said shareholders could enjoy a level of protection against fluctuations in the value of the naira.

The business mogul suggested that investors may eventually have the option of receiving dividends in dollars, a prospect he believes would make the investment particularly attractive in an environment of currency volatility.

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“At a point when you have your children studying abroad, even if there’s devaluation of the naira, you are safe because your dividend will be coming in dollars,” he stated.

When asked whether the share price could eventually rise from its opening value of ₦525 to as much as ₦10,000 per share, Dangote said such a scenario was possible if the company continues to grow and deliver value to investors.

“I pray so. It could be ₦15,000 or even ₦20,000. It depends,” he said.

Drawing from examples in the stock market, he noted that some companies had seen their share prices rise dramatically over time, adding that he believes the refinery could achieve similar growth in the future.

“I’ve seen shares listed at 100 and later rise to 8,000. Our own can get to ₦5,000 or ₦10,000,” he added.

The IPO, which Dangote has branded as a “People’s IPO,” is specifically designed to encourage widespread participation by retail investors.

With a minimum subscription requirement of just 10 shares, equivalent to ₦5,250, the offer is expected to attract first-time investors and small-scale savers looking to gain exposure to one of Africa’s largest industrial projects.

Dangote revealed that his long-term vision is to create one of the most widely owned companies on the continent, with millions of ordinary citizens sharing in its success.

According to him, the goal is to build a shareholder base of at least 10 million investors, many of them retail participants who would own a stake in the refinery’s future growth.

The launch of the IPO marks another major milestone for the 650,000-barrels-per-day refinery, which has already begun reshaping Nigeria’s downstream petroleum sector and reducing the country's dependence on imported refined products.