The Aliko Dangote Foundation (ADF) has launched a new initiative that will give eligible Nigerian students 10 free shares in Dangote Petroleum Refinery and Petrochemicals FZE after they participate in the company’s ongoing initial public offering (IPO). Dangote Refinery IPO: Foundation launches share grant scheme for Nigerian students aged 18 and above. The programme targets Nigerian students aged 18 and above enrolled in public or private tertiary institutions across the country. To qualify, students must complete a verification process and subscribe to a minimum of 10 shares through the foundation’s dedicated platform. Once a student meets the requirements, the foundation will fund an additional 10 shares in the student’s name at no cost to them. How Nigerian students can qualify for the free shares The Dangote Refinery IPO opened on September 14, 2026, and is scheduled to close on October 13, 2026. Each share is priced at N525 (about KSh49). This means the minimum subscription of 10 shares requires a student to pay N5,250 (approximately KSh490). Students who complete the required verification and subscription process will then receive another 10 shares funded by the Dangote Foundation. The initiative therefore allows qualifying students to own a total of at least 20 shares, comprising the 10 shares they purchase and the 10 bonus shares funded by the foundation.
What the Dangote Foundation says The ADF said the Student Share Grant Initiative forms part of its wider efforts to promote education, economic inclusion and financial literacy among young Nigerians. The foundation said combining investment education with direct participation in the capital market would give students practical experience in saving, responsible investing and asset ownership. Dangote said young people needed more than access to education and should also have opportunities to learn about wealth creation. He said: “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.” Dangote added that exposing young people to investment opportunities early could influence their future financial habits and encourage greater participation in the formal economy. ADF explains the financial literacy programme ADF Chief Executive Zouera Youssoufou said the initiative was designed to bridge the gap between learning financial concepts and putting them into practice. Youssoufou said: “Financial literacy becomes more impactful when people can apply what they learn.”
She explained that participating students would experience the investment process from verification and subscription to allotment and ownership, giving them practical knowledge of how capital markets work. She added: “We are seeking to inspire a lifelong interest in financial literacy, investing and asset ownership among young Nigerians.” The foundation said the experience could help students make better financial decisions in the future while encouraging broader participation in Nigeria’s capital market. Dangote plans KSh2 trillion refinery project in Kenya The student share initiative comes as Dangote also plans a major refinery project in Kenya. Earlier reports said Nigerian billionaire Aliko Dangote predicted that African countries could largely stop importing refined petroleum products from outside the continent by 2030. Dangote is preparing to launch a 700,000-barrel-per-day refinery project in Lamu, on Kenya’s Indian Ocean coast. The proposed facility has been valued at about US$16 billion (approximately KSh2.07 trillion), with construction expected to take about 30 months. The Lamu project has, however, faced opposition and concerns from some stakeholders. For Nigerian students, the new ADF initiative offers an opportunity to gain practical exposure to investing while participating in the Dangote Refinery IPO.
