The Aliko Dangote Foundation (ADF) has unveiled a share grant initiative targeting up to five million tertiary students and two million vulnerable women, aimed at enabling beneficiaries to become shareholders in Dangote Petroleum Refinery and Petrochemicals through its proposed Initial Public Offering (IPO).
The Foundation’s Managing Director and Chief Executive Officer, Zouera Youssoufou, disclosed the initiative during a television interview, explaining that the programme would match qualifying share subscriptions by eligible beneficiaries, subject to the approved process and allocation.
Under the scheme, eligible students who subscribe for the minimum 10 shares valued at ₦5,250 will receive an additional 10 shares funded by the Foundation, potentially doubling their holdings to 20 shares.
Youssoufou said the initiative was designed to advance the refinery’s “People’s IPO” vision by expanding access to share ownership among groups traditionally underrepresented in Nigeria’s capital market.
“When Aliko announced the IPO, he described it as the IPO of the people and wanted as many Nigerians as possible to participate,” she said.
According to her, the Foundation has earmarked approximately ₦25 billion for the student component, while the broader programme covering students and vulnerable women is valued at about N40 billion.
She stressed that the intervention is a grant rather than an investment, adding that the shares would belong to the beneficiaries.
“The shares end up with the beneficiary. Our goal is to help people who may never have had the opportunity to own shares begin building long-term wealth,” she said.
The student component targets eligible persons aged 18 and above who are enrolled in recognised Nigerian tertiary institutions, including universities, polytechnics and colleges of education. The Foundation is working with relevant educational authorities to verify applicants and confirm their eligibility.
Beyond students, the programme seeks to benefit up to two million vulnerable women, including widows, women living in extreme poverty, persons with disabilities and widows of members of the Armed Forces.
Youssoufou said ADF was partnering with state governments, the Ministry of Women Affairs, the Armed Forces and other institutions to identify eligible women.
She added that the initiative was intended not only to broaden ownership of the refinery but also to promote financial literacy, encourage savings and investment, and help beneficiaries build long-term wealth through participation in Nigeria’s capital market.
