Some Nigerians are reportedly using their savings, taking loans and even selling personal belongings to raise money to buy shares in the Dangote Petroleum Refinery.

The refinery opened its Initial Public Offering on September 14, giving Nigerians the opportunity to own shares in the company.

The offer consists of 4.1 billion ordinary shares priced at 525 naira each, with a minimum subscription of 10 shares, costing 5,250 naira.

The company plans to raise about 2.15 trillion naira to help fund an expansion that could nearly double the refinery’s capacity to 1.4 million barrels per day.

However, investment experts have warned Nigerians against borrowing money, selling properties or committing all their savings to the offer, stressing that investments in shares carry risks.

The IPO is expected to close on October 13.