1 month ago
Aliko Dangote, the President of the Dangote Group, has stated that a N100,000 investment in the conglomerate's ongoing Initial Public Offer (IPO) has the potential to grow to N1 million within one to two years.
The prominent businessman shared these projections during an interview on Arise Television, where he outlined the potential financial benefits for retail investors participating in the public offering.
Dangote explained that investors stand to benefit from dividends paid out in U.S. dollars, which he noted would serve as a hedge against the depreciation of the Nigerian naira. This structure, he suggested, would offer vital financial security to families with children studying overseas, particularly if the local currency faces further devaluation.
"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," Dangote said during the broadcast.
"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," he continued. "Yes, you are safe because you are dividend you be collecting in dollars."
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