The Emir of Kano, Muhammadu Sanusi II, has urged residents of the state to take advantage of the ongoing Dangote Petroleum Refinery share offer to deepen local participation in Nigeria’s industrial economy.
Sanusi made the call in Kano at the launch of the Dangote Refinery share subscription scheme, organised to encourage residents to participate in the company’s ownership programme.
He described Kano as a major commercial hub in Africa, saying greater participation by residents in productive investments could strengthen the state’s longstanding position as a centre of trade and enterprise.
The Emir also commended the President of Dangote Group, Alhaji Aliko Dangote, for his investment drive and plans to contribute to economic development in Kano and across Nigeria through business expansion.
Sanusi, however, cautioned prospective investors against taking undue financial risks to participate in the share offer.
“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,” he said.
The Emir advised residents to invest only money they could afford to set aside for an extended period.
“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,” he said.
Speaking further, Sanusi stressed his desire to see Kano residents acquire ownership stakes in the refinery and participate more actively in Nigeria’s capital markets.
“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 added.
On his part, Dangote urged members of the public to participate in the subscription, describing it as an opportunity for Nigerians to become shareholders in the industrial enterprise.
He said the offer was designed to give ordinary Nigerians, including drivers, cooks and managers, an opportunity to own a stake in the refinery.
The initiative is considered particularly significant for Kano because of the state’s longstanding commercial links with the Dangote business empire and its extensive trading and entrepreneurial networks.
The event was attended by Dr Goni Farouk Umar, Alhaji Tajuddeen Aminu Dantata, A.B. Mahmud, SAN, Alhaji Sabi’u Bako and Tilewa Adebajo, alongside other prominent businessmen from Kano and other parts of the country.
Ahmad Sorondinki
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