Nigerian economist Bismarck Rewane has urged citizens to look beyond immediate financial gains and consider the long-term benefits of investing in the Dangote Refinery IPO.
Rewane made the comparison while discussing efforts to attract millions of Nigerians into the capital market. He suggested that putting a relatively small amount into shares could create greater long-term value than selling a PVC for cash and spending the money.
His message was direct: Nigerians should consider becoming investors rather than focusing only on immediate consumption.
“You are better off with your N5,000 share than selling your PVC for N10,000 or N15,000 and consuming it,” he said.
Targeting 10 Million Investors
Rewane said the proposed IPO could become an important turning point for Nigeria’s investment culture if it succeeds in attracting widespread participation.
The economist pointed to a target of 10 million shareholders, describing the figure as a major milestone for the Nigerian capital market.
If achieved, he said, the refinery would have an unusually large shareholder base and could potentially rank among companies with the widest ownership participation globally.
Beyond the numbers, Rewane believes the IPO could introduce many Nigerians to the concept of owning productive assets and benefiting from corporate growth.
From Consumers to Investors
The economist said Nigeria needs to encourage more people to move from short-term spending toward long-term wealth creation.
He particularly contrasted investment with betting and lottery activities, which depend heavily on chance.
Rewane explained that investments are made by assessing known factors surrounding an asset or company, while gambling involves taking a chance on an uncertain outcome.
His argument is that greater participation in legitimate investments could help Nigerians develop stronger financial and wealth-building habits.
A Wider Economic Impact
Rewane also described mass participation in the Dangote Refinery IPO as a form of economic democratisation.
In his view, allowing ordinary Nigerians to own shares in a major industrial company would give them a direct financial interest in its success.
“Therefore, you are democratising the market and economic process as distinct from democratizing the electoral process,” he said.
He added that the refinery could have a wider impact beyond its shareholders.
With its large refining capacity, Rewane said the facility has the potential to serve as an important petroleum-products hub for West and Central Africa.
He argued that successful operations could generate benefits for investors through profits and dividends while also increasing tax revenues available to the government.
“So it is a compelling investment opportunity which puts revenue and profits and dividends into the pockets of consumers and investors, puts a lot of tax revenue in the pockets of the government,” Rewane said.
