The Chairman of the Northern Christian Association (NCA), Reverend Joseph Hayab, has urged Christians to participate in the ongoing Dangote Petroleum Refinery Initial Public Offering (IPO). He made the call at a media parley in Kaduna, emphasizing that religious considerations should not discourage Christians from investing. According to Hayab, business has no religion, and Christians should view the public offer as a business and investment opportunity.
Reverend Hayab's comments come amid concerns that some northern Christians were hesitant to invest in the Dangote Refinery IPO due to the promoter's religious identity and uncertainty about investment opportunities. He encouraged responsible Christian leaders to promote the investment, highlighting that ownership of shares could provide a means of building wealth for families and future generations. Hayab suggested that every Christian should consider investing, citing the potential for collective participation to increase ownership.
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. Reverend Hayab gave an example of how collective participation could increase ownership, stating that if one million Christians bought 10,000 shares each, they would collectively own one billion shares.
Reverend Hayab emphasized that investment should not be viewed solely as a means of making immediate returns, but also as a way of securing the future of children and families. He encouraged 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. According to Hayab, greater investment by church members could also strengthen the financial capacity of churches.
The NCA leader disclosed that he had directed people to create awareness about the Dangote offer in their churches. He appealed for consideration of an extension of the offer period, citing that publicity about the IPO was only beginning to gain wider attention. Reverend Hayab also stressed that Christians should be open to other legitimate investment opportunities, not just the Dangote Refinery IPO.
Reverend Hayab further emphasized that his position was not limited to Dangote, encouraging Christians to seek a stake in businesses operating in Nigeria. He argued that broader domestic ownership would contribute to economic development, stating that the economy of Nigeria would grow faster if all Nigerians had a stake in the investment that is in Nigeria. He also appealed to northern Christians to participate in businesses owned by entrepreneurs from the region.
The official IPO information states that investing in shares carries risk, that share values can rise or fall, and that dividends are not guaranteed. Reverend Hayab's comments come amid broader public discussions about participation in the Dangote Refinery IPO. He also noted that the Dangote business should be viewed separately from politics, as businesses can continue operating despite changes in political administrations.
Key points
- Reverend Joseph Hayab encourages Christians to invest in Dangote Refinery's IPO, saying business has no religion.
- The Dangote Petroleum Refinery public offer comprises 4.1 billion ordinary shares at ₦525 per share.
- Reverend Hayab urges Christians to develop a stronger culture of investment to build sustainable wealth.
