Education Minister Tunji Alausa has praised the Aliko Dangote Foundation for offering eligible Nigerian tertiary students an opportunity to receive additional shares in Dangote Petroleum Refinery through its ongoing public offer.
Alausa said the initiative would help promote financial literacy, responsible investing, wealth creation and economic empowerment among young Nigerians.
Under the programme, eligible students aged 18 and above who meet the prescribed conditions may qualify for an additional 10 refinery shares funded by the foundation after personally applying and paying for at least 10 shares through the designated student subscription channel.
The minister described the initiative as an innovative approach to preparing students for greater participation in the formal economy, noting that exposure to investment opportunities could improve their understanding of savings, asset ownership and long-term financial planning.
He said the programme aligned with President Bola Tinubu’s Renewed Hope Agenda and the Nigeria Education Sector Renewal Initiative, particularly their emphasis on human capital development, enterprise and inclusive economic growth.
Alausa reaffirmed the Federal Ministry of Education’s commitment to partnerships with private-sector organizations to improve educational quality, relevance, equity and efficiency while equipping learners with skills suited to a changing economy.
The foundation’s initiative is linked to the public offer of shares in Dangote Petroleum Refinery and Petrochemicals FZE.
At an offer price of N525 per share, the minimum subscription of 10 shares costs N5,250.
An eligible student who successfully applies for 10 shares and qualifies for the foundation-funded application could have applications covering 20 shares, valued at N10,500, while personally paying N5,250 for the initial subscription.
However, the additional application and eventual allotment of shares are not guaranteed.
The foundation’s published terms state that its additional application is separate from the student’s paid subscription and that participation is voluntary. Eligibility alone does not guarantee the grant, as applicants must meet the verification requirements and complete the relevant Know Your Customer procedures.
Eligible applicants must be enrolled in qualifying public or private tertiary institutions in Nigeria, be at least 18 years old, provide the required student information and possess a valid Bank Verification Number.
Postgraduate students are excluded under the published terms.
The foundation has also clarified that the initiative is neither a cash grant nor a refund. Instead, it may fund a separate application for additional shares in the student’s name.
The student initiative comes as Dangote Petroleum Refinery and Petrochemicals FZE undertakes a public share offering intended to broaden ownership of the industrial facility and raise capital for expansion.
The initial public offering involves 4.1 billion ordinary shares at N525 each, targeting approximately N2.15 trillion, equivalent to about $1.6 billion.
Also Read: Dangote Foundation offers students 10 bonus shares
The offer opened on the 14th September, 2026, following regulatory approval. Its closing date was subsequently extended from 13th to 27th of October 2026, to give more investors an opportunity to participate.
Located in the Lekki area of Lagos State, the refinery was developed at an estimated cost of $20 billion and has a stated production capacity of 700,000 barrels per day.
The planned expansion is expected to increase its capacity to 1.4 million barrels per day over the next three years.
The share offering provides members of the public with an opportunity to acquire an ownership interest in one of Nigeria’s major industrial investments, subject to the offer terms and allotment process.
The offer is also intended to broaden retail participation in the capital market by making shares available through approved subscription channels, including digital platforms.
For the education sector, the foundation’s programme offers an opportunity to introduce students to the practical workings of the capital market, including share subscriptions, investment documentation, identity verification and ownership records.
Alausa said the initiative’s educational value lay in encouraging young people to understand investment beyond conventional classroom instruction and appreciate the importance of financial responsibility.
The programme could also encourage discussions in tertiary institutions about personal finance, entrepreneurship, corporate ownership and the relationship between savings and long-term wealth creation.
However, share ownership does not guarantee profits or financial security. Share prices can rise or fall, and investors should understand the relevant offer documents and risks before making investment decisions.
The foundation’s published terms state that its additional share application is discretionary and subject to applicable legal and regulatory requirements. Final allotment remains subject to the IPO’s procedures, even when an application is submitted.
The Securities and Exchange Commission has also advised prospective investors to obtain information through official channels, verify the authenticity of websites and platforms before providing personal or financial information, and make payments only through approved subscription channels.
Alausa clarified that the ministry’s commendation of the initiative should not be interpreted as an endorsement of any particular investment decision.
He encouraged other corporate organizations to develop programmes that support education, financial inclusion and youth empowerment, saying stronger collaboration between government and the private sector could help prepare young Nigerians for a more productive and financially informed future.
The minister reaffirmed that the Federal Government would continue to pursue partnerships that strengthen the connection between education, practical skills, enterprise and national development.
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