How Nigerian Students Can Apply for 10 Free Dangote Refinery Shares

The Aliko Dangote Foundation has introduced a share grant initiative that could allow eligible Nigerian tertiary institution students to receive 10 additional shares in Dangote Petroleum Refinery and Petrochemicals FZE without paying for them. The programme, known as the Student Share Grant Initiative, is designed to encourage financial literacy, savings and investment among young Nigerians by giving them an opportunity to participate in the refinery’s ongoing initial public offering (IPO). However, the shares are not automatically free for every student. Applicants must meet the eligibility requirements, complete student verification and purchase at least 10 refinery shares before they can be considered for the additional shares funded by the foundation. The minimum paid subscription is ₦5,250, based on the offer price of ₦525 per share. The foundation may then fund a separate application for another 10 shares at no additional cost to the eligible student.

Who is eligible for the free Dangote shares?

According to the initiative’s terms and conditions, applicants must meet several requirements before they can be considered for the grant. Eligible students must:

• Be at least 18 years old.
• Be enrolled in a recognised public or private tertiary institution in Nigeria, including a university, polytechnic or college of education.
• Be an undergraduate or other eligible non-postgraduate student; postgraduate students are excluded.
• Provide the information required to verify their student status.
• Have a valid Bank Verification Number (BVN).
• Complete the required identity verification and Know Your Customer checks.
• Apply and pay for at least 10 Dangote refinery shares through the designated student subscription channel.

Applications must be submitted in the student’s own name and for their own benefit. Each eligible student may be considered for the grant only once. Meeting these conditions does not automatically guarantee that the foundation will fund the additional application or that shares will ultimately be allotted.

How to apply for the additional 10 shares

Students interested in the initiative can follow these steps. ### 1. Visit the official foundation portal Applicants should begin by visiting the Aliko Dangote Foundation’s Student Share Grant Initiative website: https://ipo.alikodangotefoundation.org/students Students should use the official portal rather than links circulated by unknown individuals or unofficial social media accounts. ### 2. Complete student verification Applicants will be required to provide details needed to verify their student status. These may include their institution’s name, matriculation number, BVN, email address and phone number. Students should ensure that the information supplied is accurate and consistent with their identity and school records. ### 3. Proceed to the designated subscription channel After completing the student verification process, applicants should follow the portal’s instructions to access the designated subscription platform. They must also complete the applicable identity verification and Know Your Customer requirements and review the relevant IPO documentation before making an investment decision. ### 4. Purchase at least 10 shares Eligible applicants must apply for and pay for a minimum of 10 shares in Dangote Petroleum Refinery and Petrochemicals FZE. At ₦525 per share, the minimum subscription costs ₦5,250. Students are responsible for paying for the shares they personally apply for. Applications made through other banks, brokers or platforms may not qualify for the foundation’s grant. Applicants should therefore follow the designated channel and its instructions carefully. ### 5. Qualify for the additional 10 shares Once the student’s eligibility, payment and application have been checked, the foundation may fund and submit a separate application for 10 additional shares on the student’s behalf. The student does not have to pay for this additional application. However, the foundation retains discretion over whether to fund and submit it, in line with the programme’s terms and conditions.

What is the application deadline?

The reported deadline for the Student Share Grant Initiative is October 27, 2026. Students who intend to participate should visit the official foundation portal promptly to confirm that the student application channel remains open and check for any updates to the deadline. The deadline is particularly important because participation depends on the availability of the refinery’s public offer and the designated subscription channel.

Important things students should know before applying

Although the initiative provides an opportunity for eligible students to gain investment exposure, prospective applicants should understand the difference between submitting an application and receiving shares. Neither the student’s paid application nor the foundation-funded application guarantees an allotment. The final allocation is subject to the applicable IPO procedures. The foundation also does not guarantee investment returns or an increase in the value of the shares. As with other equity investments, the value of the shares may rise or fall, and investors may lose money. Students should read the approved offer documents and understand the risks before deciding whether to invest their own money. Participation in the grant initiative is voluntary and should not be interpreted as a recommendation to buy the refinery’s shares. Applicants should also protect their personal information and use only the official foundation portal and designated subscription channel. No individual can legitimately guarantee that a student will receive the additional shares simply in exchange for a separate payment. The initiative is intended to promote financial inclusion and introduce young Nigerians to the capital market. For students considering participation, understanding the eligibility rules, costs and investment risks is as important as completing the application process.