How I Protected My Portfolio with Dangote Refinery IPO Ahead of the June 2026 Sell-Off

As a long-term investor guided by Buffett and Munger’s philosophy, I rarely sell winning stocks. But the news of the Dangote Refinery IPO in early May 2026 prompted me to reconsider. By mid-May, I had completed due diligence and decided to commit ₦100 million to the offering. To create that war chest, I sold shares in Zenith Bank, GTCO, NGX Group, and NAHCO on May 26. The net proceeds of ₦42 million, combined with ₦15 million I already held, went into a money market fund as dry powder. I expected a market dip once subscriptions opened. What surprised me was how early and steep the sell-off began. Reviewing my earlier analysis, Mr. Market’s irrationality proved the value of preparation. The takeaway: act on conviction, prepare before opportunities arrive, and welcome volatility as a chance to build generational wealth. How is your portfolio faring in this environment?

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