'This is our company': Nigerians show off oil wealth after share-buying frenzy

Aliko Dangote wanted all Nigerians to get involved in the share offer Every Nigerian is now an oil magnate. At least that is what the social media memes would have you believe as investor fever hits the country. Nigerians have been eager to have a piece of the energy business that was built up 's – and continent's – richest man: Aliko Dangote. More than four billion shares in his giant oil refinery – representing just over 3% of the company - went on the market on Monday in Africa's biggest-ever sale of its kind. The minimum purchase was 10 shares for about $4 (£3) and despite this only representing a miniscule portion of the firm, many are now celebrating and joking about their new-found (part-)owner status. One popular social media video has a Nigerian narrating how he stopped a speeding Dangote company lorry driver, telling him not to be reckless with company property. Other memes show investors trying to phone up Dangote to discuss business matters. And the term "Yangote" – a pun in the Hausa language essentially meaning "we all have a share now" - has been on social media. On the first day of the Initial Public Offering (IPO), investment apps crashed as they could not handle the high demand. The Bamboo trading platform crashed as so many people tried to buy the shares Bamboo, which runs one of the most popular investor tools here, later apologised, saying: "We know we let you down." Public affairs analyst Jamil Ubah said he had rarely seen Nigerians as excited about something as this. He argued that it fed the dream that it could lead to greater riches for a population that is often battling to make ends meet. "I think the hope for the common man is that his money will grow into something big, and don't forget this is coming at a time when many are struggling as the economy is not doing great," he told the BBC. Dangote wanted this to be "the people's IPO" with drivers, cooks, cleaners and servants having the chance to be part of something big. And they took him at his word. Twenty-five-year-old clothes seller Idris Lawal Musa made his first-ever stock exchange purchase and told the BBC he was happy after investing 21,000 naira ($16; £12) in 40 shares. "It is no longer Dangote but 'Yangote', the company belongs to us now," he said while laughing. But he may make a quick sale. "I am a trader I see that the shares have increased in price I will sell," he noted.