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The Emir of Kano, Muhammadu Sanusi II, has encouraged people in the state to participate in the Dangote Petroleum Refinery share offer, saying the investment provides an opportunity for them to gain a stake in a major Nigerian industrial venture.
Sanusi spoke in Kano during the launch of the refinery’s share subscription campaign, where he urged residents to take a more active role in the country’s capital market.
The Emir described Kano as an important commercial centre and said residents could strengthen the state’s economic influence by channelling part of their investable income into productive assets.
Sanusi also commended Aliko Dangote, President of the Dangote Group, for establishing large-scale businesses and expanding investments across Nigeria.
He said he wanted Kano residents to have a sense of ownership of the refinery through the share offer.
“I speak as the Emir of Kano; I would like my people to be owners of this company.”
Sanusi said participation in the offer would also help increase financial inclusion and encourage more Kano residents to engage with the capital market.
“I do not want us to be left behind in the capital markets. I do not want us to be left behind in financial inclusion. So this is the time and this is the opportunity.”
However, the Emir cautioned residents against sacrificing essential needs or taking on financial obligations simply to purchase shares.
He specifically warned prospective investors against using money meant for their children’s education or selling their homes to raise funds.
“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.”
Instead, he advised residents to consider investing only funds they could comfortably leave untouched for a period of time.
“But what you can afford, 10,000, 20,000, 30,000 — what you can afford to set aside for some time, set it aside.”
Sanusi said investors should approach the opportunity with patience and a long-term outlook, rather than putting money into the offer with immediate profit expectations.
The Emir further explained that shareholders could have an ownership interest in the business regardless of where the physical refinery is located.
“It doesn’t matter where the refinery is located. It could be located in Lagos, or Ibadan, or on the moon. It is the shareholders who own it.”
He also described Dangote as a prominent businessman from Kano whose investments have contributed to industrial activity in Nigeria.
Dangote, who also addressed the gathering, encouraged Nigerians to consider participating in the offer, saying it was structured to allow people from different backgrounds to become shareholders in the refinery.
The share offer has been presented as an opportunity to broaden Nigerian participation in the ownership of the massive petroleum refining project.
The event attracted several prominent Kano businessmen and community figures, including Dr Goni Farouk Umar, Tajudeen Aminu Dantata, A.B. Mahmud, SAN, Sabi’u Bako and Tilewa Adebajo.
