By Daniel Akinte
The Aliko Dangote Foundation (ADF) has introduced a Share Grant Initiative to support eligible tertiary students across Nigeria who participate in the ongoing Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE (DPRP) by offering an additional 10 free shares.
Under the initiative, an eligible student who successfully applies for and pays for at least 10 DPRP shares through the designated ADF student subscription channel may qualify for the Foundation to apply on the student's behalf for an additional 10 shares at no cost to the student.
The initiative is open to eligible students aged 18 and above who are enrolled in recognised public or private tertiary institutions in Nigeria, including universities, polytechnics and colleges of education. Students are also required to meet the applicable verification and Know Your Customer (KYC) requirements.
The ongoing Dangote Refinery IPO is priced at ₦525 per share, with a minimum subscription of 10 shares, amounting to ₦5,250. The offer opened on September 14, 2026, and is scheduled to close on October 13, 2026.
Click here for the Official Registration Portal for Aliko Dangote Foundation Share Grant Initiative and then click on the join now when the link opens.
How the student share grant works
The Foundation's initiative requires eligible students to first make their own subscription for at least 10 DPRP shares through the designated ADF student subscription channel.
The student's own subscription is separate from the additional application that may be funded by the Foundation. The ADF-funded application is not a cash payment, rebate, or refund to the student.
The Foundation's terms also state that students should not pay any separate fee to the Foundation or any individual to participate in the initiative.
It is important to note that participation in the initiative does not guarantee share allotment. Both the student's personal application and the ADF-funded application remain subject to the applicable IPO terms and allotment procedures.
Further clarification on the initiative was provided during a Zoom interaction between campus journalists across Nigeria and representatives of the Dangote Group on Sunday, October 4, 2026.
The interaction, moderated by Professor Mojeed Olujinmi A. Alabi, the current Provost of the College of Law at Osun State University, Nigeria raised some questions from campus journalists to the representatives of Dangote Group about the eligibility requirements, previous IPO subscriptions, CSCS accounts and the number of shares students could subscribe for.
One of the questions asked by a campus journalist was: “Will students who have subscribed to the Dangote IPO before the commencement of the initiative be eligible for the Dangote Foundation grant?”
A representative of Dangote Group answered saying, “All qualified students are eligible. What students need to do is to apply through the official Aliko Dangote Foundation portal to partake in the initiative.”
This clarification is relevant to students who may have subscribed to the Dangote IPO before becoming aware of the Foundation's initiative.
Another question raised during the interaction concerned the Central Securities Clearing System (CSCS) account. A campus journalist asked: “Since there'll be a need for a CSCS account for trading, will there be a need to register for another account?”
Dangote Group personnel answered saying “When you look at the interface of the official website, you'll see where BVN is required. This BVN will be verified to ascertain if there's any CSCS account linked with it. If there is, it is still that account that will be used, and the student's broker will communicate with him or her. But if the person is a first-timer, the site will automatically create an account for such students through Vectica Broker.”
The clarification means that students who already have an applicable account linked to their BVN may not need to create another account for the purpose of the initiative, while first-time participants would be guided through the account-opening process.
The Foundation's terms state that allotted shares from either the student's own application or the ADF-funded application are to be held electronically in the appropriate CSCS account under the applicable procedures.
In response to a question concerning the limit for students, the answer given stated that: “The minimum is 10 units but no maximum.” This means that while 10 shares is the minimum subscription, students may personally apply for additional shares in multiples of 10, subject to the applicable IPO requirements.
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