Dangote Foundation: full steps for students to get 10 free refinery shares

Eligible Nigerian tertiary students can receive 10 additional shares in Dangote Petroleum Refinery and Petrochemicals FZE at no cost under the Aliko Dangote Foundation's Student Share Grant Initiative. But they must first buy at least 10 shares in the refinery's ongoing initial public offering at ₦525 per share, a minimum investment of ₦5,250.

The grant is meant to promote financial inclusion, encourage savings and introduce young Nigerians to the capital market. It does not guarantee allotment or investment returns.

Who qualifies

Applicants must be at least 18 years old and enrolled in an eligible public or private tertiary institution in Nigeria, including a university, polytechnic or college of education. Postgraduate students are excluded. They must provide information to verify student status, possess a valid Bank Verification Number and complete identity verification and Know Your Customer checks. Students must apply in their own names, buy at least 10 shares through the designated subscription channel and apply for the grant only once.

How to apply

Start through the official Aliko Dangote Foundation student share grant portal at https://ipo.alikodangotefoundation.org/students. Submit your institution's name, matriculation number, BVN, email address and phone number. Ensure details are accurate and consistent with your records. Follow the platform's instructions to verify your student status and complete identity checks. Review the IPO documents and apply for a minimum of 10 shares through the designated subscription channel. At ₦525 per share, the minimum investment is ₦5,250. Students must pay for their own initial subscription.

The foundation may fund a separate application for 10 additional shares after eligibility, payment and application checks. It retains discretion over whether to fund and submit the application. The extra shares are funded separately, so beneficiaries do not pay for them. Applying does not guarantee an allotment, and the foundation does not promise investment returns. Share values can rise or fall, potentially resulting in losses.

Deadline and caution

The official Dangote IPO account announced on X that the student share grant initiative would close on October 27, 2026. The deadline was extended by two weeks after the Securities and Exchange Commission approved a move from October 13 to October 27, 2026, Dangote Group announced on Monday, October 12. Interested students should check the official portal to confirm applications remain open and review updates before proceeding.

The initiative covers only the IPO of Dangote Petroleum Refinery and Petrochemicals FZE, not shares in other Dangote companies. Students should use only the official portal and designated subscription channel, read the terms and conditions, and avoid anyone promising guaranteed shares in exchange for unofficial payments.

For Nigerian students, the offer lowers the entry cost into the refinery's IPO by adding 10 shares if they meet the rules. The ₦5,250 minimum still matters, and the risk of no allotment or lower share value remains.