Emir Sanusi tells Nigerians not to “sell their house” just to invest in Dangote shares

• Emir Sanusi warned Nigerians not to use school fees or sell their homes to buy Dangote shares.

• He suggested investing only money they could comfortably set aside, including ₦10,000, ₦20,000 or ₦30,000.

• Sanusi urged Kano residents to take a long-term approach to investing in the refinery.

The Emir of Kano, Muhammadu Sanusi II, has warned prospective investors against using their children's school fees or selling their homes to buy shares in the Dangote Refinery Initial Public Offering.

Sanusi gave the warning on Thursday while speaking at the IPO investor roadshow in Kano, part of ongoing outreach for the offer, which opened on September 14.

He urged residents to invest only money they could comfortably set aside, suggesting modest starting amounts like ₦10,000, ₦20,000 or ₦30,000 rather than risking essential household 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. Buy 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," he said.

Sanusi encouraged Kano residents specifically to take up shares in the refinery, describing its founder, Aliko Dangote, as a son of the state and urging locals not to be left out of the opportunity.

"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.

He also called on union representatives and community leaders to help educate their members about the investment opportunity, and advised prospective investors to think long-term rather than chase quick returns.

"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," he said. "Forget about it for some time. You'll be surprised in five years the 10,000 Naira you invest today, what it will be."

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Addressing concerns over the refinery's Lagos location, Sanusi said ownership isn't tied to geography. "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, who take the return, who own the profit," he said.

He also praised Dangote's Kano roots, joking that other regions and countries were beginning to claim him as their own. "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. This is his grand homecoming. We are happy to share him, but please do not take him away from us," he said.

Sanusi added that the refinery was already creating jobs and had secured its gas supply, port access and markets, producing both refined petroleum products and fertiliser.