The Aliko Dangote Foundation has introduced a share grant initiative that could allow eligible Nigerian tertiary students to receive an additional 10 shares in Dangote Petroleum Refinery and Petrochemicals FZE at no cost.
Announced on the foundation’s social media platforms in October, the initiative aims to promote financial inclusion, encourage savings and investment, and introduce young Nigerians to the capital market.
Under the scheme, eligible students must apply for and pay for a minimum of 10 shares in the refinery’s ongoing initial public offering (IPO) to qualify for consideration for an additional 10 shares funded by the foundation. At the offer price of ₦525 per share, the minimum subscription costs ₦5,250.
The additional shares are subject to the foundation’s terms and conditions, eligibility checks and applicable IPO procedures. Participation does not guarantee that either the student’s application or the foundation-funded application will result in a share allotment.
Who is eligible?
Applicants must be at least 18 years old and enrolled in an eligible public or private Nigerian university, polytechnic or college of education. Postgraduate students are excluded. Applicants must also provide the required student information, possess a valid Bank Verification Number (BVN), complete applicable identity verification and Know Your Customer (KYC) checks, and apply for at least 10 shares through the designated student subscription channel. Each eligible student may be considered once.
How to apply
Students should visit the official Aliko Dangote Foundation Student Share Grant Initiative portal and provide the required details, including their institution, matriculation number, BVN, email address and phone number.
Applicants must complete the student verification process, fulfil the applicable KYC requirements and follow the instructions on the designated subscription platform to apply for at least 10 shares in their own names. They are responsible for paying the ₦5,250 minimum subscription cost.
Once the eligibility and payment checks are completed, the foundation may fund and submit a separate application for an additional 10 shares on behalf of qualifying students. However, the foundation retains discretion over whether to fund and submit the application, and the shares are not guaranteed.
What is the deadline?
According to an announcement on the official Dangote IPO account on X, the initiative was scheduled to close on October 27, 2026. Interested students should check the official application portal to confirm the deadline and whether applications remain open.
Students should also note that the scheme applies specifically to the refinery’s IPO and does not guarantee investment returns. The value of any shares allotted may rise or fall, depending on market conditions. Applicants are advised to read the applicable offer documents and terms and conditions and use only official application channels to avoid fraud.
