The Aliko Dangote Foundation (ADF) has launched a Student Share Grant Initiative aimed at promoting financial literacy, responsible investing and  long-term asset ownership among young Nigerians.

Recall that Dangote Petroleum Refinery and Petrochemicals (DPRP) opened its Initial Public Offering (IPO) on 14 September, in a share sale expected to raise up to ₦2.15 trillion, or about $1.6 billion, potentially making it Africa’s largest IPO. The company is offering 4.1 billion shares at ₦525 each, with the offer closing on 13 October, while trading on the Nigerian Exchange is expected to begin in November.

The new initiative is open to students aged 18 years and above enrolled in public and private tertiary institutions across Nigeria, subject to applicable verification and eligibility requirements.

Under the initiative, eligible students who complete the required verification process and apply in their own name and for their own benefit for a minimum of 10 DPRP shares through the designated participation channel, ipo.alikodangotefoundation.org, will qualify for ADF to fund an application for an additional 10 DPRP shares in the student’s name at no additional cost to the student.

However, the foundation said funding the additional application does not guarantee that the shares will be allotted.

According to the Foundation, both the student’s application and the ADF-funded application remain subject to the applicable IPO terms, allotment procedures and outcome of the IPO.

It added that any shares allotted pursuant to the ADF-funded application will also be allotted in accordance with the applicable IPO procedures.

The foundation said the initiative forms part of its broader commitment to empowering young Nigerians by promoting financial literacy, encouraging informed participation in the formal financial system and helping young people develop an early understanding of saving, responsible investment and asset ownership.

It further noted that the Student Share Grant Initiative is a programme of the foundation and is separate from the offer and administration of the DPRP IPO.

‘Investment education should go beyond the classroom’

Speaking on the initiative, Chairman of the Aliko Dangote Foundation, Aliko Dangote, said support for young people should go beyond providing access to education to equipping them with the knowledge and opportunities to participate meaningfully in economic value creation.

“Supporting young people goes beyond expanding access to education; it also means giving them the knowledge and opportunity to understand how economic value is created and how they can participate in it,” Mr Dangote said.

He said the foundation wanted Nigerian students to understand the importance of saving, responsible investment and long-term ownership.

“Through this Initiative, we hope to introduce more young people to the principles of investment and encourage them to begin developing an investment culture early in life,” he said.

Mr Dangote added that greater understanding of investment and ownership could help young Nigerians make better-informed financial decisions throughout their lives.

“This is ultimately about developing a mindset. When young people understand investment and ownership early, they are better equipped to make informed financial decisions and participate more confidently in the formal economy,” he said.

Turning financial literacy into practical experience

The Chief Executive Officer of the Aliko Dangote Foundation, Zouera Youssoufou, said the initiative was designed to combine financial education with practical experience.

“Financial literacy is strengthened when people have an opportunity to put knowledge into practice. This Initiative gives eligible students an opportunity to experience the formal investment process for themselves, from verification and application to understanding allotment and ownership, while encouraging responsible and informed participation in the capital market,” Mrs Youssoufou said.

She said the foundation’s objective went beyond participation in a single transaction.

“We want to encourage students to develop a lifelong interest in financial literacy, responsible investing and asset ownership,” she said.

Who can participate?

According to the Foundation, eligible students aged 18 years and above who are enrolled in public or private tertiary institutions in Nigeria may visit  ipo.alikodangotefoundation.org to complete the required student verification process.

Following successful verification, eligible students will be directed to the designated subscription channel, through which they may apply, in their own name and for their own benefit, for a minimum of 10 DPRP shares. The Foundation said 10 shares is the minimum application size under the IPO.

Students who complete the required process will qualify for ADF to fund an application for an additional 10 DPRP shares in their name. The ADF-funded application will be provided at no cost to the eligible student.

The initiative applies only to eligible students participating in the DPRP IPO through the designated participation channel.

It cannot be used to apply for shares in another person’s name, shares in any other Dangote company or securities of any other company.

The IPO remains subject to its applicable offer documentation, regulatory requirements, terms and transaction procedures.

“Students are encouraged to carefully review the frequently asked questions (FAQs), terms and conditions and privacy notice relating to the Aliko Dangote Foundation Student Share Grant Initiative before participating.”