The Chairman of the Northern Christian Association (NCA), Rev. Joseph John Hayab, has urged Christians, particularly those in Northern Nigeria, not to allow religious considerations to discourage them from participating in the ongoing Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals.
Hayab made the call in Kaduna during a media parley, where he addressed concerns over the reluctance of some Christians to invest in the offer because of the religious identity of the refinery’s promoter, Aliko Dangote.
The cleric said the IPO should be viewed strictly as a business and investment opportunity rather than through a religious lens.
“Business has no religion. What Dangote is selling is not Islam; Dangote is selling shares. Shares bring money,” Hayab said.
He urged Christian leaders to encourage their members to develop a culture of investment and financial planning instead of relying solely on salaries and other forms of active income.
“If I have my way, just as they are advertising, every Christian should have 10 shares,” he said.
Hayab said collective participation in the capital market could enable Christians to become significant shareholders in major Nigerian businesses while creating wealth for households and future generations.
“Buy it for your son. Buy it for your grandchildren. Buy it for the future of their education,” he urged.
The NCA chairman also linked the need for investment to the financial strength of families and churches, arguing that members with stronger personal finances would be better positioned to support church activities.
“The reason why our offering is poor in many of our churches is because we are not investing,” he said.
The Dangote Petroleum Refinery and Petrochemicals IPO comprises 4.1 billion ordinary shares priced at N525 per share, with a minimum subscription of 10 shares valued at N5,250.
The offer, which opened on September 14, 2026, is scheduled to close on October 13, 2026. If fully subscribed, it would raise about N2.15 trillion to fund growth capital expenditure under the refinery’s expansion programme.
The company said the refinery reached its 650,000 barrels-per-day capacity in February 2026 and has tested production of up to 700,000 barrels per day. The shares are expected to be listed on the Nigerian Exchange Limited following completion of the offer.
Hayab said wider domestic ownership of Nigerian businesses would contribute to economic growth, urging Nigerians to acquire stakes in companies operating in the country.
“The economy of Nigeria will grow faster if all Nigerians have a stake in the investment that is in Nigeria,” he said.
He also urged Nigerians to separate business decisions from politics, noting that political administrations change while viable businesses can continue operating.
“Today we have Tinubu as president, tomorrow we’ll have another person as president, but we will be having Dangote business all through,” he said.
Hayab disclosed that the NCA had commenced an awareness campaign among Christians on the IPO and would continue the sensitisation until the offer closes.
“We started that last Sunday and we’ll do that this Sunday and we’ll continue to do until the 13th when it is over,” he said.
He also called on Northern Christians to support legitimate businesses owned by entrepreneurs from the region, noting that Dangote is from Northern Nigeria.
However, Hayab stressed that his advocacy was not limited to Dangote Refinery, urging Christians to consider other legitimate investment opportunities available in the capital market.
Meanwhile, the Securities and Exchange Commission (SEC) has advised prospective investors to carefully read the approved prospectus, understand the associated risks and transact only through officially designated receiving agents.
The Commission also warned investors against transferring funds to individuals or unauthorised platforms claiming to guarantee share allocations.
The company has equally stated that dividends, if and when declared, are not guaranteed, advising prospective investors to seek professional guidance from registered capital market operators where necessary.
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