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.
The initiative, according to the Foundation, is designed to broaden youth participation in Nigeria’s capital market by giving eligible tertiary institution students practical experience of the formal investment process.
The programme is open to students aged 18 and above enrolled in public and private tertiary institutions across Nigeria, subject to verification and other eligibility requirements.
Under the initiative, an eligible student who successfully completes the required verification process and applies in their own name and for their own benefit for a minimum of 10 shares in the Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE (DPRP) will qualify for the Foundation to fund an application for an additional 10 DPRP shares in the student’s name at no additional cost to the student.
The Foundation, however, clarified that its funding of the additional application does not guarantee that the additional shares will be allotted.
It said both the student’s application and the ADF-funded application would remain subject to the applicable IPO terms, allotment procedures and outcome of the offering.
Speaking on the initiative, Chairman of the Aliko Dangote Foundation, Alhaji Aliko Dangote, said supporting young Nigerians should go beyond providing access to education to equipping them with knowledge and opportunities to participate 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.
“We want Nigerian students to understand the importance of saving, investing responsibly 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.”
According to him, 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.
Also speaking, Chief Executive Officer of the Aliko Dangote Foundation, Mrs. Zouera Youssoufou, said the initiative was designed to combine financial education with practical investment experience.
“Financial literacy is strengthened when people have an opportunity to put knowledge into practice,” Youssoufou said.
She added that the initiative would give eligible students an opportunity to experience the formal investment process, “from verification and application to understanding allotment and ownership, while encouraging responsible and informed participation in the capital market.
“Our objective goes 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 added.
The Foundation said eligible students could visit the designated initiative portal to complete the required verification process.
Following successful verification, students would be directed to the designated subscription channel, through which they could apply in their own names for a minimum of 10 DPRP shares, which is the minimum application size under the IPO.
Students who complete the required process would then qualify for ADF to fund an application for an additional 10 DPRP shares in their names, at no cost to them.
The Foundation stressed that the initiative applies only to eligible students participating in the DPRP IPO through the designated participation channel.
It said the grant could not be used to apply for shares in another person’s name, shares in any other Dangote company or securities of another company.
ADF also clarified that the Student Share Grant Initiative is a Foundation programme separate from the offer and administration of the DPRP IPO, which remains subject to applicable offer documentation, regulatory requirements, terms and transaction procedures.
It further stated that participation was voluntary and that the initiative should not be regarded as investment advice or a recommendation by the Foundation to acquire DPRP shares.
“Prospective participants should carefully review the applicable IPO documentation and make their own investment decisions,” the Foundation said.
Students were also encouraged to review the frequently asked questions, terms and conditions and privacy notice relating to the initiative before participating.
Further information on eligibility requirements and participation procedures is available through a designated Student Share Grant Initiative portal..
The Aliko Dangote Foundation is the private charitable foundation of Nigerian industrialist, Aliko Dangote, with interventions focused on social and economic development across Africa, including health and nutrition, education, economic empowerment and humanitarian relief.