ADF Launches Share Grant Initiative for Nigerian Students and Women in Dangote Refinery IPO

The Aliko Dangote Foundation (ADF) has introduced a share grant program to enable up to five million tertiary students and two million vulnerable women to become shareholders in Dangote Petroleum Refinery and Petrochemicals through its Initial Public Offering (IPO).

Managing Director and Chief Executive Officer Zouera Youssoufou stated that the Foundation will match qualifying share subscriptions by eligible beneficiaries.

Students subscribing for the minimum 10 shares valued at N5,250 will receive an additional 10 shares funded by the Foundation, effectively doubling their holdings to 20 shares.

Youssoufou emphasized that the initiative aims to realize the refinery’s 'People’s IPO' vision by providing direct ownership stakes to traditionally underserved groups within Africa’s largest industrial asset.

Aliko Dangote previously described the IPO as the 'IPO of the people' to ensure broad Nigerian participation.