Dangote Foundation Opens Applications for Share Grant Scheme Tied to Refinery IPO

Dangote Foundation Opens Applications for Share Grant Scheme Tied to Refinery IPO

By Olufemi Odeyemi, LAGOS — The Aliko Dangote Foundation (ADF) has opened applications for a Share Grant Initiative that will help Nigerian undergraduates and lower-income women acquire equity in the forthcoming Initial Public Offering (IPO) of the Dangote Petroleum Refinery and Petrochemicals FZE.

The programme, which the Foundation describes as part of efforts to deepen financial inclusion and widen retail participation in the capital market, will match or fully fund shares for qualified applicants.

Under the student track, eligible undergraduates who register and buy a minimum of 10 shares in the IPO through designated channels will receive an additional 10 shares funded entirely by the Foundation, at no cost to them.

A parallel track for women offers both matching and unconditional grants, giving women from underserved backgrounds direct access to equity ownership.

An ADF programme representative said the initiative was designed to remove barriers to share ownership. "By introducing young scholars and women to retail investing early, we are laying the foundation for a culture of savings and sustainable asset building across the nation," the representative said.

To qualify under the student category, applicants must be at least 18 years old and currently enrolled as undergraduates in a recognised public or private tertiary institution in Nigeria, including universities, polytechnics and colleges of education. Postgraduate students are not eligible. Applicants must complete student verification, satisfy Know Your Customer (KYC) requirements and subscribe to at least 10 IPO shares.

In the women's category, the matching grant track is open to independent Nigerian women who earn ₦100,000 or less monthly and purchase a minimum of 10 shares. The unconditional grant track is reserved for verified beneficiaries of designated ADF community programmes and service widows.

Interested applicants are to visit the Foundation's portal at ipo.alikodangotefoundation.org, select the relevant track and enter their personal and institutional details. They must then complete identity verification and digital KYC checks before proceeding to the official IPO subscription platform to pay for the initial batch of 10 shares. The Foundation said an existing Central Securities Clearing System (CSCS) account is not required before applying.

Financial analysts have welcomed the scheme, describing it as an innovative model that combines philanthropy with capital market development.

The Foundation said the final allotment of grant shares will be carried out in line with regulatory guidelines and the official IPO terms after the subscription window closes.