Rewane urges Nigerians to buy Dangote Refinery IPO shares over selling PVCs
Bismarck Rewane, economist and commentator on Channels Television, urged Nigerians to invest in the Dangote Refinery Initial Public Offering (IPO) rather than sell their Permanent Voter Cards (PVCs) for quick cash. The timing of his remarks was not specified in the report. He said a N5,000 stake in the refinery offers better long-term value than collecting N10,000 or N15,000 from selling a PVC and spending it immediately.
Rewane argued that the IPO could deepen Nigeria's investment culture by turning millions of Nigerians into shareholders, with a target of 10 million investors that would give the refinery one of the largest shareholder bases worldwide. He contrasted investing with gambling, noting that investment is based on known parameters while betting relies on chance, and described mass participation as a form of economic democratisation that puts revenue, profits, dividends and tax gains into the hands of citizens and government.
The refinery, expected to become a major hub for petroleum refining across Central and West Africa, could put revenue and profits into investors' pockets while generating tax income for the state. Will you allocate N5,000 to the Dangote Refinery IPO for potential long-term gains, or sell your PVC for immediate consumption?