Emir Sanusi Sends Warning To Investors Concerning Dangote Shares

The Emir of Kano, Muhammadu Sanusi II, has cautioned prospective retail investors against risking essential funds—such as school fees or home equity—to purchase equity in public listings.

Speaking on Thursday during the Kano leg of the Dangote Refinery Initial Public Offering (IPO) investor roadshow, the traditional ruler advised citizens to invest strictly discretionary income that they can spare over a sustained period, suggesting modest sums like N10,000, N20,000, or N30,000.

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 warned.

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.

The Emir’s remarks came amid ongoing public engagements for the Dangote Refinery IPO, which officially opened to subscription on September 14.

Sanusi encouraged Kano residents to deepen their participation in the capital market by taking equity positions in the megaproject established by Kano-born industrialist, Aliko Dangote.

I speak as the Emir of Kano, I would like my people to be owners of this company,he stated. 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 called on union executives and community leaders to sensitize their members to the capital market opportunity, advocating a patient, long-term wealth creation mindset over short-term speculative trading.

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, Sanusi explained.

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.

Addressing potential hesitation regarding the physical site of the complex, the former Central Bank Governor noted that asset location does not diminish shareholder equity or profit entitlements.

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.

Reaffirming Dangote’s roots, Sanusi celebrated the industrialist’s heritage while welcoming his global stature.

We have heard Lagos claim Aliko. I know very soon even Egypt will claim him, America will claim him. But we all know where he comes from, he noted.

I would like to say that this is his grand homecoming. We are happy to donate him. We are happy to share him, but please do not take him away from us.

Highlighting the operational scale of the facility, Sanusi pointed to its production capacity across refined petroleum products and fertilizer, alongside secured gas feedstock, port access, and established distribution markets as key economic fundamentals supporting the enterprise.