Rev. Joseph John Hayab, Chairman of the Northern Christian Association (NCA), has encouraged Christians to invest in the ongoing Dangote Petroleum Refinery Initial Public Offering (IPO). He emphasized that business considerations should be separate from religious ones, urging Christians to view the public offer as an investment opportunity rather than through a religious lens. Hayab's comments aim to address concerns that some northern Christians were hesitant to participate due to the promoter's religious identity and uncertainty about investment opportunities.
Hayab stressed that owning shares could help families and future generations build wealth, suggesting that responsible Christian leaders should encourage their members to invest. He gave an example of collective participation, stating that if one million Christians bought 10,000 shares each, they would collectively own one billion shares. The Dangote Petroleum Refinery public offer comprises 4.1 billion ordinary shares at ₦525 per share, with a minimum subscription of 10 shares valued at ₦5,250. The offer opened on September 14 and is scheduled to close on October 13, 2026.
Hayab advised Christians to develop a stronger culture of investment, arguing that excessive dependence on salaries limits the ability of individuals and institutions to build sustainable wealth. He also suggested that greater investment by church members could strengthen churches' financial capacity. According to him, many church members rely mainly on salaries, which is why their offerings are often poor in many churches.
The NCA leader disclosed that he had directed people to raise awareness about the Dangote offer in their churches. He stated that they started this effort last Sunday and would continue to do so until the offer closes on October 13. Hayab also appealed for consideration of an extension of the offer period, saying publicity about the IPO was only beginning to gain wider attention.
Hayab emphasized that the Dangote business should be viewed separately from politics, noting that political administrations could change while businesses could continue operating. He said, "Today we have Tinubu as president, tomorrow we’ll have another person as president, but we will be having Dangote business all through." He also appealed to northern Christians to participate in businesses owned by entrepreneurs from the region, noting that Dangote is from the North.
The official IPO information states that investing in shares carries risk, that share values can rise or fall, and that dividends are not guaranteed. Hayab, however, encouraged Christians to invest for the future, saying, "Buy it for your son. Buy it for your grandchildren. Buy it for the future of their education." He believes that broader domestic ownership would contribute to economic development.
Hayab's comments come amid broader public discussions about participation in the Dangote Refinery IPO. He urged Nigerians to seek to have a stake in businesses operating in the country, arguing that this would help the economy grow faster. Hayab's call to action is directed not only at the Dangote IPO but also at other legitimate investment opportunities, emphasizing that Christians should be open to investing in various businesses.
Key points
- Christians should view the Dangote IPO as a business and investment opportunity, separate from religious considerations.
- Collective participation in the IPO can increase ownership and help families build wealth.
- Developing a stronger culture of investment can help individuals, institutions, and churches build sustainable wealth.
