By Ayomide Otitoju
The Aliko Dangote Foundation (ADF) has unveiled a share grant initiative aimed at helping up to five million tertiary students and two million vulnerable women acquire shares in Dangote Petroleum Refinery and Petrochemicals through its Initial Public Offering (IPO).
The Foundation’s Managing Director and Chief Executive Officer, Zouera Youssoufou, disclosed 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.
Speaking during a television interview, Youssoufou said the initiative was designed to advance the refinery’s “People’s IPO” vision by expanding access to share ownership among Nigerians who have traditionally been underrepresented in the 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 Youssoufou, the student component is open to eligible individuals aged 18 and above enrolled in recognised Nigerian tertiary institutions, including universities, polytechnics and colleges of education.
She said the Foundation was working with relevant educational authorities to verify applicants and ensure that beneficiaries met the eligibility requirements.
About ₦25 billion has been earmarked for the student component, while the broader programme covering students and vulnerable women is valued at approximately ₦40 billion, she added.
Youssoufou stressed that the intervention was a grant rather than an investment facility, with the shares ultimately belonging 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.
Beyond students, the Foundation plans to support 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 the Foundation was partnering with state governments, the Ministry of Women Affairs, the Armed Forces and other institutions to identify eligible beneficiaries.
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 more Nigerians build long-term wealth through participation in the capital market.
