{"id":4386,"date":"2026-09-19T08:38:46","date_gmt":"2026-09-19T08:38:46","guid":{"rendered":"https:\/\/consumerconnectng.com\/?p=4386"},"modified":"2026-09-19T08:38:46","modified_gmt":"2026-09-19T08:38:46","slug":"dangote-refinery-ipo-sanusi-assures-critics-equity-investment-will-spread-wealth-across-nigeria","status":"publish","type":"post","link":"https:\/\/consumerconnectng.com\/?p=4386","title":{"rendered":"Dangote Refinery IPO: Sanusi assures critics equity investment will spread wealth across Nigeria"},"content":{"rendered":"

*The Emir of Kano, His Royal Highness Khalifa Muhammadu Sanusi II, challenges detractors of Dangote Petroleum Refinery to mobilise $22 billion to also build a refinery to enhance competition <\/em><\/strong><\/p>\n

Alexander Davis | ConsumerConnect<\/p>\n

The Emir of Kano, His Royal Highness Khalifa Muhammadu Sanusi II, has urged individuals, entrepreneurs and businesses across Kano State to take advantage of the Dangote Petroleum Refinery and Petrochemicals Limited Initial Public Offering (IPO).<\/p>\n

Sanusi described equity ownership as a powerful vehicle for long-term wealth creation and economic empowerment.<\/p>\n

The revered monarch stated this while speaking at the Dangote Refinery \u201cPeople\u2019s IPO\u201d sensitisation roadshow in Kano.<\/p>\n

He also said Kano’s rich history of commerce, enterprise and investment had positioned its people to benefit significantly from participation in the capital market.<\/p>\n

The Emir of Kano also stressed that he had closely followed the evolution of the Dangote Group from its formative years.<\/p>\n

He described the Dangote Refinery as the culmination of a long-standing vision to produce in Nigeria the products required to serve its vast population.<\/p>\n

Reflecting on his early career as a Credit Risk Management Officer at United Bank for Africa (UBA) in the late 1990s, he recalled engaging with Aliko Dangote at a time when the company was transitioning from trading and importation into large-scale manufacturing.<\/p>\n

According to the Emir, what many initially viewed as an unusual strategy of using short-term financing to pursue long-term industrial investment was, in reality, evidence of Dangote’s determination to build productive capacity and reduce Nigeria’s dependence on imports.<\/p>\n

Sanusi explained that the industrial vision was based on a simple but compelling economic principle: producing locally the goods Nigerians consume daily rather than importing them from overseas.<\/p>\n

He stated: \u201cSomebody needs to produce the petrol for your cars, somebody needs to produce the cement for your houses, somebody needs to produce the food that you eat.<\/p>\n

“We are importing these things from Asia, Europe and America.<\/p>\n

“Our strategy is to produce those things here.”<\/p>\n

The Emir described the Dangote Refinery as a landmark project capable of transforming Nigeria’s economic structure, particularly its long-standing dependence on imported petroleum products despite being one of Africa’s leading crude oil producers.<\/p>\n

Drawing from his experience as a former Governor of the Central Bank of Nigeria (CBN), Sanusi noted that fuel imports had historically exerted substantial pressure on the country’s Foreign Exchange  (Forex) reserves.<\/p>\n

He said Nigeria earned Foreign Exchange from crude oil exports only to spend a significant portion importing refined products.<\/p>\n

The traditional ruler noted: \u201cWhat Aliko has done is disrupt that model.”<\/p>\n

Domestic refining, he noted, would not only reduce import dependence but also position Nigeria as an exporter of refined petroleum products.<\/p>\n

He pointed to the refinery’s growing international relevance.<\/p>\n

Increased investment in productive industries, not criticism, offer solution, says Sanusi<\/strong><\/p>\n

The erstwhile Governor of CBN as well cited reports of European airlines purchasing aviation fuel from the facility during disruptions linked to the Strait of Hormuz crisis, a development he said demonstrated the refinery’s capacity to serve global energy markets.<\/p>\n

Addressing concerns about market dominance, the Emir argued that the solution was not criticism but increased investment in productive industries.<\/p>\n

\u201cThere is no monopoly if a monopoly is not protected by law.<\/p>\n

“Anybody who wants to build a refinery, anybody who wants to raise $22 billion, invest and go through what Aliko went through is welcome to do so,\u201d he stated.<\/p>\n

Sanusi further encouraged Nigerians to channel investments towards productive ventures capable of generating jobs, value and economic growth rather than focusing primarily on speculative activities or overseas assets.<\/p>\n

He described the Dangote Refinery IPO as a unique opportunity for Nigerians to become part owners of one of Africa’s most significant industrial projects.<\/p>\n

\u201cIt is the shareholders who own it. It is the shareholders who take the returns.<\/p>\n

“It is the shareholders who own the profits,\u201d he said.<\/p>\n

Encouraging participation in the IPO, the Emir urged prospective investors to invest responsibly and maintain a long-term perspective, cautioning against committing funds required for essential family obligations.<\/p>\n

Urging Kano residents to take the opportunity, Emir Sanusi urged citizens to embrace the Capital market.<\/p>\n

The monarch emphasised that widespread participation in the Dangote Refinery IPO would not only create wealth for investors but also deepen financial inclusion, and strengthen local ownership of national industrial assets.<\/p>\n","protected":false},"excerpt":{"rendered":"

*The Emir of Kano, His Royal Highness Khalifa Muhammadu Sanusi II, challenges detractors of Dangote Petroleum Refinery to mobilise $22 billion to also build a…<\/p>\n","protected":false},"author":2,"featured_media":4348,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"_FSMCFIC_featured_image_caption":"L-R: Managing Director\/CEO, Financial Derivatives Company, Bismarck Rewane; President\/CE, Dangote Industries Limited, Aliko Dangote; Emir of Kano, His Highness, Muhammadu Sanusi II (Special Guest of Honour & Chairman); at the Dangote Petroleum Refinery IPO Roadshow tagged \u201cKano Grand Homecoming\u201d in Kano State Photo: DIL","_FSMCFIC_featured_image_nocaption":"","_FSMCFIC_featured_image_hide":"","_customify_content_layout":"","_customify_sidebar":"","_customify_page_header_display":"default","_customify_disable_header":"","_customify_disable_header_top":"","_customify_disable_header_main":"","_customify_disable_header_bottom":"","_customify_disable_page_title":"","_customify_disable_content_vertical_padding":"","_customify_disable_footer_top":"","_customify_disable_footer_main":"","_customify_disable_footer_bottom":"","_customify_breadcrumb_display":"","_customify_header_transparent_display":"default","footnotes":""},"categories":[20,3,4],"tags":[],"class_list":["post-4386","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-highlights","category-infoeducation","category-markets"],"featured_image_urls":{"full":["https:\/\/consumerconnectng.com\/wp-content\/uploads\/2026\/09\/Dangote-Sanusi-Bismarck-in-Kano-over-IPO-cc.png",672,360,false],"thumbnail":["https:\/\/consumerconnectng.com\/wp-content\/uploads\/2026\/09\/Dangote-Sanusi-Bismarck-in-Kano-over-IPO-cc-150x150.png",150,150,true],"medium":["https:\/\/consumerconnectng.com\/wp-content\/uploads\/2026\/09\/Dangote-Sanusi-Bismarck-in-Kano-over-IPO-cc-300x161.png",300,161,true],"medium_large":["https:\/\/consumerconnectng.com\/wp-content\/uploads\/2026\/09\/Dangote-Sanusi-Bismarck-in-Kano-over-IPO-cc.png",672,360,false],"large":["https:\/\/consumerconnectng.com\/wp-content\/uploads\/2026\/09\/Dangote-Sanusi-Bismarck-in-Kano-over-IPO-cc.png",672,360,false],"1536x1536":["https:\/\/consumerconnectng.com\/wp-content\/uploads\/2026\/09\/Dangote-Sanusi-Bismarck-in-Kano-over-IPO-cc.png",672,360,false],"2048x2048":["https:\/\/consumerconnectng.com\/wp-content\/uploads\/2026\/09\/Dangote-Sanusi-Bismarck-in-Kano-over-IPO-cc.png",672,360,false]},"author_info":{"info":["ConsumerConnect"]},"category_info":"Highlights<\/a> InfoEducation<\/a> Markets<\/a>","tag_info":"Markets","comment_count":"0","_links":{"self":[{"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/posts\/4386","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4386"}],"version-history":[{"count":1,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/posts\/4386\/revisions"}],"predecessor-version":[{"id":4389,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/posts\/4386\/revisions\/4389"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/media\/4348"}],"wp:attachment":[{"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4386"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4386"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4386"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}