Chief F.E. Ojugbana, a veteran business adviser and elder statesman, has weighed in on the Dangote Petroleum Refinery and Petrochemicals Initial Public Offering, calling it a landmark moment for Nigeria’s capital market and a chance for ordinary citizens to invest in the country’s growing industrial sector.
The IPO opened on 14 September, offering 4.1 billion ordinary shares at N525 each, with a minimum subscription of ten shares. The Securities and Exchange Commission approved the offer and advised investors to subscribe only through officially designated channels.
With more than five decades of experience in business development, management consultancy and institutional training, Ojugbana is the founder and chairman of MADEC Associates. He has advised government bodies, multinational firms and local enterprises on capacity building and enterprise growth.
“Investment should be approached with optimism, but also with discipline. Opportunities will come, and where the fundamentals are understood and the investment suits your circumstances, Nigerians should be prepared to participate. But you invest what you can afford. You do not jeopardise your home, your children’s education or your immediate responsibilities in pursuit of an investment return,” he said.
His caution mirrors that of the late Emir of Kano, Muhammadu Sanusi II, who urged investors not to sell homes or use children’s school fees to buy shares, and to adopt a long‑term perspective.
Ojugbana believes that broader ownership of major Nigerian enterprises can promote financial inclusion, capital ownership and long‑term wealth creation as indigenous companies expand across the country and the continent. He also stresses the importance of due diligence and a clear understanding of the risks before subscribing.
The Dangote Refinery IPO is scheduled to close on 13 October 2026, subject to the terms set out in the offer documents.
<small>Source: Vanguard News — read the original story there.</small>
