I used to board at a barn that oiled their indoor footing. They used mineral oil, IIRC, in industrial quantities.
It kept the dust from being terrible, but there was still enough that riding in there was not real fun, and you'd go home and blow black boogers for the night. And if you fell? You were COVERED in the footing.
Yeah, it helped a little with the dust, but really came with a set of it's own issues