The Chairman of the Northern Christian Association (NCA), Rev. Joseph John Hayab, has urged Christians, particularly in Northern Nigeria, to participate in the ongoing Dangote Petroleum Refinery and Petrochemicals IPO, saying religious considerations should not discourage investment.
Hayab made the call at a media parley in Kaduna on Saturday, September 26, 2026, while responding to concerns that some Christians were hesitant to invest because of the religious identity of the promoter, Aliko Dangote. Nigerian Tribune reported his comments on September 26, 2026.
“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 stronger investment culture instead of depending mainly on salaries and other earned income.
“If I have my way, just as they are advertising, every Christian should have 10 shares,” Hayab said, according to Nigerian Tribune.
The NCA chairman also encouraged Christians to view share ownership as a way of building assets that outlast political administrations and benefit future generations.
“Today we have Tinubu as president, tomorrow we will have another person, but businesses will remain. Buy it for your son. Buy it for your grandchildren. Buy it for the future of their education,” he said.
Hayab argued that stronger household investment could also improve the financial capacity of churches.
“The reason why our offering is poor in many of our churches is because we are not investing,” he said.
He further argued that wider Nigerian ownership of local businesses could support economic growth, saying his message was not limited to the Dangote IPO but applied to other legitimate investment opportunities.
“The economy of Nigeria will grow faster if all Nigerians have a stake in the investment that is in Nigeria,” Hayab said.
The Dangote Refinery IPO comprises 4.1 billion ordinary shares priced at ₦525 each, with a minimum subscription of 10 shares valued at ₦5,250. The offer opened on September 14, 2026, and is scheduled to close on October 13, 2026. The official IPO website confirms the offer terms and dates.
Hayab also disclosed that the NCA had started creating awareness about the offer in churches and planned to continue the campaign until the closing date. He appealed for an extension of the offer period to give more Nigerians time to learn about and participate in the IPO.
He also encouraged Northern Christians to support businesses established by entrepreneurs from the region, noting that Dangote is from Northern Nigeria.
The comments come as the Dangote Refinery seeks broader participation in its public offer, which the company has positioned as an opportunity for investors to acquire an ownership stake in the refinery. Prospective investors are advised to study the approved prospectus and consider the risks before subscribing.
