Don’t Sell Your House to Buy Dangote Shares — Sanusi Warns Nigerians
The Emir of Kano, Muhammadu Sanusi II, has urged Nigerians interested in buying shares in the Dangote Petroleum Refinery to invest responsibly, warning against putting essential family needs at risk in the pursuit of investment returns.
Sanusi gave the advice on Thursday during the Dangote Refinery Initial Public Offering (IPO) investor roadshow in Kano.
The former Central Bank of Nigeria governor specifically warned prospective investors against using their children’s school fees or selling the homes they live in to purchase shares.
“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,” Sanusi said.
He encouraged investors to consider only money they could comfortably set aside for some time, mentioning amounts such as ₦10,000, ₦20,000 and ₦30,000 as examples.
Sanusi also urged investors to approach the shares as a long-term investment rather than buying with the expectation of making quick profits.
What is behind the Dangote IPO?
The Dangote Refinery IPO opened on September 14, 2026, offering 4.1 billion new ordinary shares at ₦525 each. The minimum subscription is 10 shares, costing ₦5,250. The offer is scheduled to close on October 13, 2026, subject to its terms.
The public offering has attracted considerable attention because it gives retail investors an opportunity to become shareholders in one of Africa’s largest industrial projects.
Reuters reported that the refinery, which has a production capacity of 700,000 barrels per day, is seeking to raise about ₦2.15 trillion ($1.6 billion) through the IPO.
But Sanusi’s message highlights an important distinction: an investment opportunity should not come at the expense of basic financial security.
For families already struggling with school fees, housing costs, food, healthcare and other necessities, committing essential funds to shares can create additional financial pressure.
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The excitement surrounding the Dangote IPO is understandable, but Sanusi’s warning raises a broader question about financial discipline in an economy where many households are already under significant pressure.
An investment is supposed to build financial security — not destroy the foundation on which a family depends.
Before buying any shares, investors should understand the risks, consider their financial circumstances and invest only money they can afford to leave untouched.
Nigeria is facing serious economic pressures. But the answer is not to sacrifice your family’s immediate needs for the hope of future investment gains.
What do you think?
Would you invest in Dangote Refinery shares with your spare money, or do you think Nigerians should concentrate on meeting their immediate financial needs first?
Drop your opinion in the comments section.
Headlineswave reviewed reports from TheCable, Channels Television and Reuters in preparing this report
