Dangote Foundation Offers Students 10 Free Shares in Refinery IPO
A new programme from the Aliko Dangote Foundation will give Nigerian students aged 18 years and older 10 extra shares in Dangote Petroleum Refinery and Petrochemicals FZE at no cost, provided they first subscribe for a minimum of 10 shares.
The Student Share Grant Initiative is available to students enrolled in recognised public and private tertiary institutions nationwide. Its stated objectives include advancing financial literacy, encouraging responsible investing and supporting long-term wealth creation among young Nigerians.
Alhaji Aliko Dangote, Chairman of the Aliko Dangote Foundation, announced the scheme in a statement on Thursday. He said it would offer young Nigerians hands-on exposure to investment and ownership by taking part in the ongoing Initial Public Offering of Dangote Petroleum Refinery and Petrochemicals FZE.
Dangote said assistance for young people should extend past education. In his words, “Supporting young people goes beyond providing access to education. It must also involve equipping them with the knowledge and opportunities to participate in economic growth and wealth creation. Through this initiative, we want students to understand the value of saving, responsible investing and long-term ownership. Our goal is to help them develop an investment mindset early in life.”
He added that early contact with investment opportunities can shape the financial choices young people make later and draw more of them into the formal economy.
“When young people understand ownership and investment early, they are better positioned to make informed financial choices, build wealth responsibly and contribute more actively to economic development,” he said.
To benefit, students must first pass the required verification and then subscribe for at least 10 DPRP shares through the designated platform. Once that is done, the Foundation will cover the cost of applying for an additional 10 shares registered in the student’s name.
Mrs Zouera Youssoufou, Chief Executive Officer of the Aliko Dangote Foundation, said the scheme pairs financial education with real experience in the capital market.
She stated, “Financial literacy becomes more impactful when people can apply what they learn. This programme allows eligible students to experience first-hand how the investment process works, from verification and subscription to allotment and ownership, while reinforcing the importance of responsible participation in the capital market.”
Youssoufou also said the programme aims to spark lasting interest in investment and asset ownership among young Nigerians.
“We are seeking to inspire a lifelong interest in financial literacy, investing and asset ownership among young Nigerians. The knowledge and experience gained through this initiative can serve as a foundation for sound financial decision-making throughout their lives,” she said.
Applicants must complete verification through the designated Foundation platform, after which they are directed to the subscription channel. There, they can apply for a minimum of 10 DPRP shares in their own names and for their own benefit.
The Foundation made clear that the initiative cannot be used to buy shares for another individual, for another Dangote company, or for any other company. It described the Student Share Grant Initiative as a standalone programme focused on promoting financial literacy and investment participation.
It further stressed that taking part is voluntary and should not be seen as investment advice or a recommendation to acquire DPRP shares. Prospective participants were advised to review the IPO documentation thoroughly before making any investment decision.
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