IPO: ‘N100k investment could become N1m in one year’ – Dangote

Businessman and President of the Dangote Group, Aliko Dangote, has said an investment of N100,000 in the ongoing Initial Public Offer, IPO, of the company could potentially grow to N1 million within one or two years.

Dangote made the remark while responding to questions during an interview with Arise Television.

He said investors could also benefit from dollar-denominated dividends, which he said could provide protection against the depreciation of the naira.

Dangote added that such investments could provide financial security for individuals with children studying abroad, particularly in the event of further naira devaluation.

Dangote said: “At least what we are looking at, if you invest like something like maybe N100,000 naira, you know, within one year, two years or so, you are talking about you becoming a millionaire.

“So, you be collecting money, and if at a point when you have your kids studying abroad, even if there is devaluation of the currency of the naira, you are safe.

“Yes, you are safe because you are dividend you be collecting in dollars.”