President of Dangote Industries Limited, Aliko Dangote, has said investors who put N100,000 into the Dangote Petroleum Refinery and Petrochemicals FZE could potentially become millionaires within one or two years.
Dangote made the projection in an interview aired by ARISE TV on Tuesday, while discussing the potential returns investors could receive from the refinery following its public offering.
He said the company would continue to consider measures aimed at ensuring investors receive good returns, adding that the value of the refinery’s shares could rise significantly over time.
Dangote said an investment of about N100,000 could grow to make an investor a millionaire within one or two years, depending on the performance of the shares.
He also advised investors to retain their holdings and benefit from potential returns over time, saying such investments could provide financial protection even in the event of further depreciation of the naira.
He said, “The refinery, we are going to continuously think of what best to make so that we will guarantee that people will continue to collect the right return for their investments.
“It can get up to that, you know, depending on where, you know, I’ve seen shares listed at 100, they go to a thousand.
“But our own, it will get to maybe five, ten thousand, you know. So, but at least what you are looking at, if you invest like something like maybe 100,000 Naira, you know, within one year, two years or so, you are talking about you becoming a millionaire.
“You remain there, you’ll be collecting money. At a point when you have your kids studying abroad, even if there is devaluation of the currency of the Naira, you are safe.”
The comments came as the Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE entered the market amid strong early interest from investors.
The N2.15 trillion offer, which opened on Monday, comprises 4.1 billion ordinary shares priced at N525 each. The company is seeking to attract as many as 10 million investors through a distribution network involving stockbrokers, banks, fintech platforms, telecommunications companies and point-of-sale agents.
WATCH TOP VIDEOS FROM NIGERIAN TRIBUNE TV