Dangote Foundation Offers Free Shares to Students in Refinery IPO

The Aliko Dangote Foundation has launched a Student Share Grant Initiative, offering eligible Nigerian university students an opportunity to participate in the ongoing Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE (DPRP). The initiative aims to deepen financial literacy and encourage wealth creation among young Nigerians. Over the weekend, the Foundation engaged campus journalists from tertiary institutions nationwide in an online session to raise awareness about the IPO and the importance of financial education.

Under the initiative, students aged 18 and above, enrolled in public and private tertiary institutions, can receive free DPRP shares. To qualify, students must purchase a minimum of 10 shares through the dedicated platform, ipo.alikodangotefoundation.org. For every qualifying subscription, the Aliko Dangote Foundation provides an additional 10 shares at no extra cost to the student, fostering early engagement in the capital market.

At the IPO offer price of 525 naira per share, students are required to invest a minimum of 5,250 naira to apply for 10 shares. The additional 10-share application funded by the Foundation would also be worth 5,250 naira, meaning an eligible student investing 5,250 naira could potentially receive shares valued at 10,500 naira if both applications are fully allotted. The overall DPRP IPO offers 4.1 billion ordinary shares, targeting approximately 2.15 trillion naira from the public.

University students have welcomed the initiative, describing it as a significant opportunity to become shareholders in one of Africa's major industrial projects. Amaechi Rosemary, a University of Ibadan student, noted that the program makes investing more accessible, removing barriers for students to become shareholders while still in school. Other students, including Emmanuel Ndah, Moshood Muheeb, and Esther Olatunji, highlighted the educational and empowering aspects, emphasizing the practical knowledge gained in investment and financial responsibility.

Eligible students must complete a verification process on the Foundation's platform, providing personal and student information, including their matriculation number. The IPO opened for subscription on September 14, 2026, and is scheduled to close on October 13, 2026. The Foundation clarified that its role is limited to funding the additional share application and that neither its funding nor the eventual allotment of shares is guaranteed, with all transactions governed by the DPRP IPO prospectus and capital market rules.