Former Kaduna Central Senator, Shehu Sani, has cautioned Nigerians about investing in the stock market, saying prospective investors need to understand the realities of the market before committing their money.

Sani gave the warning in a post shared on his X account on Sunday while commenting on the Nigerian stock market and the activities of stockbrokers.

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He said stockbrokers could use persuasive language to convince people to invest, after which investors might have to wait for a long period before seeing substantial returns.

Sani wrote: “The Nigerian stock market issues. The stock brokers have ‘sweet mouth’. They will make you believe in magic until you pump in your money.

“When you give them N5M, you can be getting an alert (dividend) of N50k after a long time; if you complain, they will tell you to wait until ‘the market rises’, and remind you ‘it’s a LONG TIME investment.’

“Everything looks like the gambling machine. If you have money to invest, please set up a small factory.”

The former senator’s comments come amid heightened public interest in Nigeria’s capital market following the launch of the Dangote Petroleum Refinery and Petrochemicals Initial Public Offering (IPO).

The Dangote Refinery IPO opened on September 14, 2026, with 4.1 billion shares offered at ₦525 per share.

The Securities and Exchange Commission has advised prospective investors to carefully read the approved prospectus and understand the terms, conditions and risks associated with the investment.

Sani’s Earlier Comments on Dangote IPO

Sani had earlier commented specifically on the Dangote Refinery share offer on September 15, cautioning prospective investors against unrealistic expectations about making quick wealth from shares and stocks.

He urged Nigerians interested in the offer to educate themselves about the realities, risks and fluctuations associated with stock-market investments before committing their money.

According to Sani, while investing could be beneficial, investors needed to understand both the potential gains and the risks involved.

He also warned against the belief that buying shares would automatically make someone a millionaire or billionaire within weeks or months.

“On a serious note, people need to be properly educated or enlightened on the realities and fluctuations of the business of buying shares and stocks,” Sani said.

He added that people with phones should take time to educate themselves about the risks involved in investing and understand “both sides” of the investment.

Sani also made a humorous reference to prospective Dangote Refinery shareholders, asking: “So, those who will buy N100k worth of shares from Dangote Refinery will soon be saying ‘Our Refinery’?”

His latest Sunday remarks therefore follow his earlier warning on the Dangote share offer, although his latest post did not specifically mention Dangote Refinery.

The newly redeployed State Commandant of the Nigeria Security and Civil Defence Corps (NSCDC), Niger State Command, Commandant Abdulhamid Salisu Kabara, has assumed duty and taken over the leadership of the command.

Kabara took over from Commandant Suberu Siyaka Aniviye, who was suspended following the deaths of 37 persons arrested in connection with suspected illegal mining activities in the state.

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The development was contained in a statement signed by the NSCDC Niger State Command spokesperson, DSC Abubakar Rabiu Muti on Saturday.

According to the statement, Kabara’s assumption of office comes at a particularly sensitive period for the command following the deaths of the 37 persons in custody.

The new commandant expressed deep sadness over the loss of lives and extended his heartfelt sympathy to the families of the deceased and everyone affected by the incident.

Kabara stressed that while the NSCDC remains committed to its statutory responsibilities, including arrest, investigation, enforcement and the fight against illegal mining, the sanctity of human life must remain paramount.

President Bola Ahmed Tinubu has directed state governments and stakeholders in the transport sector to intensify efforts to ensure lower transportation fares for Nigerians from October 1, 2026.

The President’s directive was contained in a statement issued on Saturday by his Special Adviser on Information and Strategy, Bayo Onanuga, on the National Affordable CNG Transit Programme.

Tinubu said he met with the governors of the 36 states on August 27, where they agreed on the objective of ensuring that more Nigerians begin to see measurable reductions in transportation costs from October 1.

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Following the meeting, an implementation committee was established under the auspices of the Nigeria Governors’ Forum and chaired by Kwara State Governor, AbdulRahman AbdulRazaq.

The President said the committee, PI-CNG and EV, state governments and other stakeholders were already working to identify priority transport corridors, determine appropriate interventions and put the necessary arrangements in place.

He said the ongoing global energy crisis had made the initiative more urgent, adding that several states had already demonstrated how cheaper energy could translate into lower transportation costs.

In Borno, Tinubu said CNG-powered and electric public transport services were moving commuters for between ₦50 and ₦100 on routes where commercial operators charge between ₦300 and ₦600.

He said Kaduna’s 100 CNG-powered buses provided free transportation on major routes and carried about 3.2 million passengers in their first year, saving commuters more than ₦3.5 billion in transport costs.

According to the President, CNG buses deployed to Pacesetter Transport in Oyo State reduced the Lagos–Ibadan fare from about ₦8,000 to ₦3,200 during the initial deployment.

He added that alternative-energy transit services in Adamawa had cut fares by as much as 50 per cent, from ₦8,000 to ₦4,000.
In Enugu, Tinubu said the deployment of 100 CNG buses reduced the Enugu–Nsukka fare from ₦2,500 to ₦1,500.

He also disclosed that government-supported buses in Plateau transport about 13,000 commuters daily at ₦200, compared with more than ₦500 charged by commercial operators.

Through the Federal Government’s partnership with the National Union of Road Transport Workers, passengers using CNG-converted commercial vehicles on several Abuja routes are also benefiting from a 40 per cent fare reduction.

Tinubu cited the Area 1–Gwagwalada route, where fares have dropped from ₦1,500 to ₦900, while fares from Nyanya have fallen from ₦700 to ₦420 and Wuse from ₦400 to ₦240.

In Niger State, passengers on the Suleja–Abuja route now pay ₦550 compared with about ₦800, while Abia State has deployed 40 electric buses with fares subsidised by 50 per cent.

“These are not projections. Nigerians are already experiencing these savings,” Tinubu said.

The President said disruptions to global energy supplies were putting pressure on petrol and diesel prices and increasing transportation costs worldwide.

He noted that while Nigeria could not control developments in global energy markets, its natural gas resources could help reduce the country’s exposure to such shocks.

Tinubu said his administration had, over the past three years, invested in developing a CNG transportation ecosystem across the country.

According to him, more than 120,000 vehicles have been converted to CNG, while the country now has over 400 certified conversion centres and more than 90 CNG refuelling stations.

The President also rejected calls for a return to the petrol subsidy regime, saying the policy had consumed trillions of naira and left the economy exposed to movements in international oil prices.

He instead urged states to accelerate the adoption of cheaper energy alternatives.
Tinubu said Edo currently has 50 CNG buses in active service, while Kano has converted more than 1,000 commercial vehicles and is expanding its conversion and refuelling network.

He added that Delta, Kwara and Lagos were expanding CNG-supported transport services, while Akwa Ibom had taken delivery of 50 CNG buses ahead of commercial operations.

The President urged all states to maintain momentum towards October 1 by working with transport unions and commercial operators, supporting vehicle conversion and fleet deployment, and facilitating the infrastructure required.

“Above all, ensure that savings from cheaper energy reach Nigerian citizens through lower fares,” Tinubu said.

He assured that the Federal Government would continue to support the expansion of CNG infrastructure and conversion capacity while creating an enabling environment for states, transport operators, manufacturers and private investors.

“Nigeria has the gas. We are building the infrastructure. We are already seeing the savings,” Tinubu said.

“Now we must move faster and scale this so more Nigerians feel those savings in the fares they pay every day.”