NEWS
“Do Not Take Your Children’s School Fees And Put In Shares” — Emir Sanusi Urges Nigerians To Invest Wisely In Dangote Refinery IPO
The Emir of Kano, Muhammadu Sanusi II, has urged prospective investors participating in the Dangote Refinery Initial Public Offering (IPO) to approach the investment with caution, stressing that essential family funds should not be placed at risk in the pursuit of returns from the capital market.
Sanusi gave the advice on Thursday, September 17, 2026, during the Dangote Refinery IPO investor roadshow in Kano, where he encouraged residents to consider becoming shareholders of the multi-billion-dollar refinery while maintaining a responsible and long-term investment strategy.
The former Central Bank of Nigeria governor cautioned prospective investors against using money set aside for critical obligations, including their children’s education and housing, to purchase shares.
His words, “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.
“But what you can afford, 10,000, 20,000, 30,000, what you can afford to set aside for some time, set it aside. And if you look at the fundamentals of the economy, over time you can be assured that this investment will grow, and you will not regret it.
“I speak as the Emir of Kano; I would like my people to be owners of this company.
“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,” he said.
Sanusi’s message centred on financial discipline and the importance of distinguishing genuine investment from short-term speculation. He encouraged residents who have funds they can comfortably set aside to consider investing with a longer-term outlook rather than seeking immediate gains.
He further warned against buying shares simply with the expectation of making a quick profit by selling them shortly afterwards.
“And I’m not talking about someone who will buy 5,000 shares and want to sell tomorrow and believe he will get 10,000. No, I’m talking about you have some money, put it in, leave it there for some time, and just watch your money grow.
“Forget about it for some time. You’ll be surprised in five years the 10,000 Naira you invest today, what it will be. The 100,000 Naira you invest, what it will be,” Sanusi said.
The Emir also sought to deepen residents’ understanding of the concept of corporate ownership, explaining that the geographical location of the Dangote Refinery does not determine who owns the company or benefits from its financial performance.
According to him, shareholders, rather than residents of the area where the refinery is physically located, are the owners entitled to returns generated by their investment.
“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.
“It is the shareholders who own it. It’s the shareholders who take the return. It is the shareholders who own the profit,” he added.
Sanusi’s remarks came as the Dangote Refinery IPO roadshow sought to create wider awareness and encourage participation in the public offering, particularly among Nigerians outside the immediate commercial environment where the refinery is located.
He also commended Kano-born industrialist Aliko Dangote for establishing the refinery and urged residents of Kano to take advantage of the opportunity to acquire a stake in the business before the public offering closes.
The Emir’s appeal effectively framed the IPO as an opportunity for Nigerians to participate in the ownership of one of the country’s most prominent industrial ventures, while emphasising that such participation should be based on money investors can genuinely afford to commit for the long term.