Dangote refinery: Northern Christian leader urges members to invest

Dangote refinery. Photo: Dangote

The Chairman of the Northern Christian Association, Rev. Joseph Hayab, has urged Christians in northern Nigeria to consider investing in the ongoing Dangote Petroleum Refinery Initial Public Offering, saying religious considerations should not influence investment decisions.

Hayab made the call at a media parley in Kaduna on Saturday while responding to concerns that some northern Christians might be reluctant to invest in the offer because of the religious identity of its promoter, Aliko Dangote.

“Business has no religion. What Dangote is selling is not Islam; Dangote is selling shares. Shares bring money,” he said.

The NCA chairman urged Christian leaders to educate their members on investment and the importance of owning assets that could help families build wealth and provide for future generations.

“If I have my way, just as they are advertising, every Christian should have 10 shares,” Hayab said.

He encouraged Christians to consider buying shares for their children and grandchildren as part of long-term financial planning.

“Buy it for your son. Buy it for your grandchildren. Buy it for the future of their education,” he said.

The Dangote Petroleum Refinery public offer comprises 4.1 billion ordinary shares priced at N525 per share, with a minimum subscription of 10 shares valued at N5,250. The offer opened on September 14 and is scheduled to close on October 13, 2026.

Hayab said Nigerians should develop a culture of investment rather than rely solely on salaries and other sources of earned income.

“The reason why our offering is poor in many of our churches is because we are not investing,” Hayab said.

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He argued that increased domestic ownership of Nigerian businesses would strengthen the economy, urging citizens to seek opportunities to acquire stakes in legitimate enterprises.

“The economy of Nigeria will grow faster if all Nigerians have a stake in the investment that is in Nigeria,” he said.

He stressed that his call was not limited to the Dangote offer, saying Christians should consider other legitimate investment opportunities available to them.

Hayab disclosed that he had directed NCA members to create awareness about the Dangote IPO in churches across the region.

“We started that last Sunday, and we’ll do that this Sunday, and we’ll continue to do so until the 13th when it is over,” he said.

The NCA chairman also appealed for an extension of the offer period, arguing that public awareness of the IPO was only beginning to gain momentum.

Hayab urged investors to separate business from politics, noting that political administrations could change while businesses could continue operating.

“Today we have Tinubu as president, tomorrow, we’ll have another person as president, but we will be having Dangote business all through,” he said.

He also encouraged northern Christians to participate in businesses established by entrepreneurs from the region, noting that Dangote is from northern Nigeria.