Ooni Of Ife Terms Dangote Refinery Offering ‘Mother Of All Stocks’

The Ooni of Ife has described the newly launched Dangote Petroleum Refinery Initial Public Offering (IPO) as the “mother of all stocks,” commending its focus on financial inclusion.

Speaking during the bell-ringing ceremony at the Nigerian Exchange Group (NGX) in Lagos on Monday, September 14, 2026, the traditional ruler praised industrialist Aliko Dangote for making the shares affordable. With a minimum entry requirement of N5,250 for 10 ordinary shares at N525 each, the monarch noted that everyday citizens and low-income earners can now easily invest in the refinery.

The public offering of 4.1 billion shares is valued at N2.15 trillion, making it the largest corporate IPO in Nigeria’s history. During the event, Dangote acknowledged the Ooni’s early support for the project, noting that the monarch helped resolve local community and cultural challenges at the Ibeju-Lekki site to enable construction.