File photo: Aliko Dangote
Nigerian students can qualify for 10 additional shares in Dangote Petroleum Refinery and Petrochemicals FZE at no cost under the Aliko Dangote Foundation’s Student Share Grant Initiative.
The initiative announced by the Dangote’s foundation across their social media handles in October was designed to promote financial inclusion, encourage savings and investment, and introduce young Nigerians to participation in the capital market.
Under the programme, eligible students who apply for and pay for a minimum of 10 shares in the refinery’s ongoing initial public offering may qualify for the foundation to fund a separate application for an additional 10 shares on their behalf.
The minimum subscription is worth ₦5,250, based on the offer price of ₦525 per share. The additional 10 shares are funded by the foundation, meaning eligible students do not have to pay for that separate application.
However, participation does not guarantee that either the student’s own application or the foundation-funded application will result in an allotment of shares. The initiative is subject to the foundation’s terms and conditions and the applicable IPO procedures.
Who is eligible?
According to the initiative’s terms and conditions, applicants must meet the following requirements:
Be at least 18 years old.
Be enrolled in an eligible public or private tertiary institution in Nigeria, including a university, polytechnic or college of education.
Not be enrolled in a postgraduate programme.
Provide the required information for student verification.
Have a valid Bank Verification Number and complete the applicable identity verification and Know Your Customer requirements.
Apply for and pay for at least 10 refinery shares through the designated student subscription channel.
Students must apply in their own names and for their own benefit. Each eligible student may be considered for the grant only once.
How to apply for the free shares
1. Visit the official website
Students should visit the Aliko Dangote Foundation’s official Share Grant Initiative portal at https://ipo.alikodangotefoundation.org/students.
2. Verify your student status
Applicants are required to provide their institution’s name, matriculation number, Bank Verification Number, email address and phone number for verification.
Students should ensure that the details supplied are accurate and consistent with their school and identity records.
3. Complete the verification process
After entering their details, applicants should follow the instructions on the official platform to complete the student verification process and proceed to the designated subscription channel.
4. Apply for at least 10 shares
Eligible students must complete the applicable identity verification and Know Your Customer requirements, review the IPO documents and apply for a minimum of 10 shares in their own names.
At ₦525 per share, the minimum subscription costs ₦5,250. Students are responsible for paying for the shares they personally apply for.
5. Qualify for the additional 10 shares
After the required eligibility, payment and application checks, the foundation may fund and submit a separate application for 10 additional shares on behalf of an eligible student.
The additional application is at no cost to the student, but the foundation’s terms state that it retains discretion over whether to fund and submit the application. Allotment is also not guaranteed.
When is the deadline?
The official Dangote IPO account announced on X that the student share grant initiative would close on October 27, 2026.
Students interested in participating should check the official foundation portal to confirm that the designated student application channel remains open and review any updates to the deadline before applying.
Important things students should know
The initiative applies specifically to the IPO of Dangote Petroleum Refinery and Petrochemicals FZE. It cannot be used to purchase shares in other Dangote companies or any other company.
Applicants should also understand that applying for shares is not the same as receiving an allotment. The number of shares ultimately allotted depends on the applicable IPO procedures.
The foundation does not guarantee investment returns or an increase in the value of the shares. Their market value may rise or fall.
Students should use only the official initiative website and designated subscription channel, read the applicable terms and conditions, and avoid sending money or personal information to individuals who claim they can guarantee the free shares.
