The Aliko Dangote Foundation is offering eligible Nigerian tertiary students the chance to receive 10 additional shares in Dangote Petroleum Refinery and Petrochemicals FZE at no cost through its Student Share Grant Initiative. To qualify, students must purchase at least 10 shares in the refinery's ongoing initial public offering (IPO), costing a minimum of ₦5,250 at the offer price of ₦525 per share. The application window closes on October 27, 2026, but allotment and investment returns are not guaranteed.
Understanding the Student Share Grant Initiative
The Student Share Grant Initiative is designed to promote financial inclusion, encourage savings, and introduce young Nigerians to investing in the capital market. Under the programme, eligible students who buy at least 10 shares in the Dangote Refinery IPO may qualify for an additional 10 shares funded by the foundation. The extra shares are funded separately, meaning beneficiaries do not pay for them.
However, eligibility does not guarantee that shares will be allotted. The grant is subject to the foundation's terms and conditions and the applicable IPO procedures. The initiative covers only the IPO of Dangote Petroleum Refinery and Petrochemicals FZE, not shares in other Dangote companies.
Who Qualifies for the Dangote Student Grant?
According to the initiative's terms and conditions, applicants must meet several requirements to qualify. They must be at least 18 years old and enrolled in an eligible public or private tertiary institution in Nigeria, including a university, polytechnic, or college of education. Postgraduate students are excluded from the initiative.
Applicants must also provide the information required to verify their student status, possess a valid Bank Verification Number (BVN), and complete the applicable identity verification and Know Your Customer (KYC) checks. Students must apply in their own names, purchase at least 10 shares through the designated subscription channel, and apply for the grant only once.
Five Steps to Apply for Free Shares
Interested students can begin the process through the foundation's official student share grant portal. Here are the five steps:
- Visit the official application portal: Go to the Aliko Dangote Foundation's student share grant website: https://ipo.alikodangotefoundation.org/students.
- Submit your student details: Provide the required information, including your institution's name, matriculation number, BVN, email address, and phone number. Ensure all details are accurate and consistent with your records.
- Complete identity verification: Follow the instructions on the official platform to verify your student status and complete the required identity checks.
- Buy at least 10 shares: Review the IPO documents and apply for a minimum of 10 shares through the designated subscription channel. At ₦525 per share, the minimum investment is ₦5,250. Students must pay for their own initial subscription.
- Qualify for the additional shares: After eligibility, payment, and application checks, the foundation may fund a separate application for 10 additional shares on behalf of a qualifying student. The foundation retains discretion over whether to fund and submit the application.
Deadline and Key Risks to Consider
The official Dangote IPO account announced on X that the student share grant initiative would close on October 27, 2026. With the deadline approaching, interested students should check the official portal to confirm that applications remain open and review any updates before proceeding.
Applying does not guarantee an allotment, and the foundation does not promise investment returns. Share values can rise or fall, potentially resulting in losses. Students should use only the official portal and designated subscription channel, read the applicable terms and conditions, and avoid anyone promising guaranteed shares in exchange for unofficial payments, according to a report by Punch.
The key takeaway is that eligible students may receive 10 additional shares without paying for them, but they must first invest at least ₦5,250 and satisfy the programme's requirements.
Dangote Refinery Extends IPO Offers
Legit.ng earlier reported that Dangote Group has extended the deadline for investors to apply for shares in Dangote Petroleum Refinery and Petrochemicals by two weeks, giving prospective shareholders more time to participate in the offer. The company announced on Monday, October 12, that Nigeria's Securities and Exchange Commission had approved the extension, moving the closing date from October 13 to October 27, 2026.
