Obi made the statement in a post on his official X account on Wednesday, September 16, 2026, while commenting on questions he said he had received from Nigerians in the country and abroad about whether they should participate in the public offer.
While expressing his support for the investment, Obi also praised Aliko Dangote for establishing the refinery and linked the project to his longstanding argument that Nigeria should move from an economy focused heavily on consumption towards greater domestic production.
Peter Obi has encouraged Nigerians to participate in the ongoing Dangote Refinery IPO.
Peter Obi Comments on Dangote Refinery IPO
According to Vanguard, Obi said Nigerians at home and in the diaspora had approached him for his opinion on investing in the Dangote Refinery public offer.
He said he was encouraging them to buy shares while expressing pride in the scale of Dangote’s investment in Nigeria’s real sector.
Obi also used the opportunity to encourage other Nigerian businesses to invest in productive sectors and consider allowing citizens to participate through public share offerings.
His comments come as the Dangote Refinery IPO continues to attract attention from retail and institutional investors following its opening on September 14, 2026.
What Peter Obi Said About Dangote
Obi praised Aliko Dangote’s investment in the refinery and other areas of the real economy, saying the project supports the idea of moving Nigeria from consumption towards production.
He also called on other Nigerian companies to provide opportunities for citizens to become shareholders through public offerings.
The statement is Obi’s expressed view on the investment opportunity. Prospective investors still need to consider the official offer documents, the company’s financial and business outlook and the risks associated with buying shares before making their own decisions.
The official IPO website states that eligible investors can apply through approved Receiving Agents and Electronic Application Channels. It also warns investors to subscribe only through approved channels.
The listed channels include participating banks, fintech platforms, mobile-money operators and NGX-related channels. The official website provides the current list and directs investors to choose an approved Receiving Agent or Electronic Application Channel.
Investors should check the official list before making any payment rather than relying on links or payment instructions received through social media, WhatsApp or unofficial websites.
The official Dangote IPO website specifically warns that investing in shares carries risk. It states that the value of an investment can rise or fall and that investors may not recover the amount they invest.
The official information also states that dividends are not guaranteed and depend on factors including the company’s performance, cash requirements and decisions of its Board.
The ₦525 IPO price is the offer price during the public offer. It does not guarantee what the shares will be worth after they begin trading on the Nigerian Exchange.
Share prices can move up or down depending on company performance, market conditions, investor demand, economic conditions and other factors.
Owning shares can provide the possibility of receiving dividends when declared, but shareholders should not assume that dividends will automatically be paid.
The official IPO information states that dividends depend on the company’s performance, cash requirements and Board decisions.
The IPO prospectus contains detailed information about the company, the offer and the risks associated with the investment.
Prospective investors should read the prospectus carefully before subscribing and seek professional advice if they need help understanding the investment.
The official IPO website warns investors that subscriptions should only be made through approved channels. It also states that the official IPO information platform will never ask investors for their PIN, password or OTP.
5. Subscription Does Not Automatically Mean Full Allotment
Submitting an application is different from receiving an allotment of the exact number of shares requested.
The official IPO information explains that applications are processed after the offer closes and shares are allotted according to the applicable offer terms.
Investors should therefore distinguish between subscription and allotment.
Investors are encouraged to review the official offer documents before subscribing.
Peter Obi Calls on Other Nigerian Businesses to Follow
Beyond the Dangote Refinery IPO, Obi used his statement to encourage other Nigerian businesses to consider public ownership structures.
He argued that companies operating in productive sectors could give Nigerian citizens an opportunity to participate in their growth by offering shares to the public.
His comments frame the refinery’s public offer as part of a wider discussion about domestic production, industrial development and citizen participation in corporate ownership.
Why the Dangote Refinery IPO Is Attracting Attention
The public offer is one of the largest capital-market transactions in Nigeria in recent years.
The company is offering 4.1 billion shares at ₦525 each, which would generate approximately ₦2.15 trillion if the offer is fully subscribed. The offer opened on September 14 and is scheduled to close on October 13, 2026.
The scale of the transaction has generated significant interest among retail investors because the minimum subscription is 10 shares, equivalent to ₦5,250 at the offer price.
Anyone considering the Dangote Refinery IPO should be cautious about unofficial investment links, social media accounts and individuals claiming to represent the company or its advisers.
The official IPO website provides investor-support contacts and warns investors never to share sensitive banking or security information such as PINs, passwords and OTPs.
Yes. Peter Obi said in a September 16, 2026 statement that he was encouraging Nigerians who had asked for his opinion to buy shares in the ongoing Dangote Refinery IPO. He also praised Aliko Dangote’s investment in the real sector.
How much is one Dangote Refinery share?
The official IPO offer price is ₦525 per share.
What is the minimum number of Dangote Refinery shares investors can subscribe for?
No. Buying shares involves investment risk. The official IPO information states that the value of shares can rise or fall and investors may lose some or all of the money invested.
Are Dangote Refinery dividends guaranteed?
No. The official IPO information states that dividends are not guaranteed and depend on factors including company performance, cash requirements and Board decisions.
Investors should subscribe only through the SEC-approved Receiving Agents and Electronic Application Channels listed on the official Dangote Refinery IPO website.
Can I apply for the Dangote Refinery IPO online?
Yes. The official IPO website lists approved electronic channels through which eligible investors can submit applications. Investors should verify that their chosen platform is on the official approved list before proceeding.
Peter Obi has publicly encouraged Nigerians to participate in the ongoing Dangote Refinery IPO, while praising Aliko Dangote’s investment in Nigeria’s productive sector.
The public offer involves 4.1 billion shares at ₦525 each, with a minimum subscription of 10 shares or ₦5,250. The offer is scheduled to remain open until October 13, 2026.
However, Peter Obi’s statement should be understood as his expressed view rather than a guarantee of investment returns. The official IPO information makes clear that shares carry risk, prices can rise or fall, and dividends are not guaranteed.
Anyone considering the offer should review the prospectus, understand the risks, consider their own financial circumstances and use only approved subscription channels.
