By Gbayesola Samuel 

The Aliko Dangote Foundation (ADF) has launched a Share Grant Initiative targeting up to five million eligible Nigerian tertiary students, with about N25 billion set aside for additional shares under the program.

The initiative was officially launched on October 1, 2026, and designed to promote financial inclusion and encourage a culture of saving, responsible investing and long-term asset ownership among eligible students of public and private tertiary institutions in Nigeria.

Speaking in an interview with ARISE News, Zouera Youssoufou, Managing Director and Chief Executive Officer of the Aliko Dangote Foundation, described the initiative as part of Aliko Dangote’s commitment to making the Dangote Petroleum Refinery and Petrochemicals FZE Initial Public Offering (IPO) accessible to more Nigerians.

“When Alhaji Aliko announced the IPO, he described it as the IPO of the people, and he wanted to have as many people as possible participate. So, we realised that the student population, and women in general, disenfranchised women that we used to deal with in terms of microgrants, were two groups that weren’t really normally active in the capital markets,” she said.

She said the initiative has two tracks, targeting students and vulnerable women, with the student component covering up to five million beneficiaries.

“So, the first 5 million students who buy those 5,250 naira shares, we have 10 shares of the 525, so 5,250 Naira. The first 5 million, we guarantee a match from ADF. So, we already have a budget,” she said.

She added that the 5 million student beneficiaries would require about N25 billion in ADF-funded shares.

Under the initiative, an eligible student must be at least 18 years old, be enrolled in a qualifying tertiary institution in Nigeria and successfully complete the required verification process.

The student must then apply for a minimum of 10 shares in the DPRP IPO through the designated subscription channel. At the IPO offer price of N525 per share, the minimum subscription is worth N5,250.

An eligible student who successfully completes the required verification and application process may qualify for ADF to make a separate application for an additional 10 DPRP shares on the student’s behalf at no cost to the student.

Youssoufou explained the initiative during the ARISE News interview, saying, “You apply for 10, and then we match the 10.”

She also encouraged beneficiaries to hold the shares for at least a year before deciding what to do with them.

The Foundation’s terms stated that participation in the initiative does not by itself guarantee the allotment of either the student’s own subscription or the additional shares applied for by ADF.

The initiative is open only to eligible students participating in the DPRP IPO and cannot be used to purchase shares in another Dangote company or any other company.

The Dangote Refinery IPO opened on September 14, 2026, and is scheduled to close on October 13, 2026.

Students have also been advised to read the applicable FAQs, Terms and Conditions, Privacy Notice and the approved DPRP IPO before participating.

Eligible students can apply via the official IPO page ipo.alikodangotefoundation.org