Emir of Kano Advises Against Investing Essential Family Funds in Dangote Shares
His Royal Highness the Emir of Kano, Muhammadu Sanusi II, has advised Nigerians intending to buy shares in the Dangote Oil Refinery not to use funds required for their families' essential needs.
Sanusi made the remarks in Kano during a public awareness session regarding the share issuance scheme of Dangote Petroleum Refinery and Petrochemicals FZE.
The Emir, a former Governor of the Central Bank of Nigeria (CBN), warned prospective investors against selling their homes or spending their children's school fees to purchase shares.
He emphasized that individuals should only invest disposable income that they can spare over a long period without facing immediate financial hardship.
Emir Sanusi stated that prospective investors can start small with sums like N10,000, N20,000, or N30,000, rather than committing large sums of money they cannot afford to lock up for an extended duration.
He added that share acquisition should be treated as a long-term investment strategy rather than a shortcut for quick financial returns.
Furthermore, Emir Sanusi called on residents of Kano to actively participate in the capital market to secure equity in the Dangote refinery.
The monarch noted that investors should avoid buying shares with the expectation of selling them immediately for short-term gain, emphasizing that investments require time to mature and appreciate.
He added that people seeking to build long-term wealth through the stock market should focus on companies backed by solid economic fundamentals and tangible assets.
Illustrating his point, he explained that an initial investment of N10,000 or N100,000 left untouched over several years holds significant potential to grow substantially.
Emir Sanusi concluded by urging the people of Kano to support Aliko Dangote, describing him as "their son," and highlighting Kano's long-standing legacy of raising successful business icons.