Kuni Tyessi in Abuja
The Minister of Education, Dr. Tunji Alausa, has counseled the Aliko Dangote Foundation for introducing a share grant initiative designed to encourage Nigerian tertiary establishment college students to take part within the nation’s capital market by way of the continuing Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE.
The initiative, in response to the minister, represents a possibility to attach training with monetary literacy, accountable investing, wealth creation and financial empowerment amongst younger Nigerians.
Under the programme, eligible college students aged 18 and above who meet the prescribed circumstances might qualify for an utility for a further 10 refinery shares funded by the Foundation after personally making use of and paying for no less than 10 shares by way of the designated scholar subscription channel.
Alausa described the initiative as an modern method to making ready college students for higher participation within the formal financial system, noting that publicity to funding alternatives might assist them develop a greater understanding of financial savings, asset possession and long-term monetary planning.
He stated the programme aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda and the Nigeria Education Sector Renewal Initiative (NESRI), notably their emphasis on human capital growth, enterprise and inclusive financial progress.
The minister reaffirmed the Federal Ministry of Education’s dedication to partnerships with private-sector organisations to enhance academic high quality, relevance, fairness and effectivity, whereas equipping learners with expertise that meet the calls for of a altering financial system.
The Foundation’s initiative is linked to the general public supply of shares in Dangote Petroleum Refinery and Petrochemicals FZE. At the supply value of N525 per share, the minimal subscription of 10 shares prices N5,250.
An eligible scholar, who efficiently applies for 10 shares and receives the Foundation’s extra 10-share utility, might probably have functions overlaying 20 shares, with a complete supply worth of N10,500, whereas personally paying N5,250 for the preliminary subscription. However, neither the extra utility nor the eventual allotment of shares is assured.
The Foundation’s printed phrases state that its extra utility is separate from the scholar’s paid subscription and that participation within the programme is voluntary.
The phrases additionally clarify that assembly the eligibility necessities doesn’t routinely entitle a scholar to the grant. Students should fulfill the Foundation’s verification necessities and full the related Know Your Customer (KYC) procedures beneath the IPO.
Eligible candidates have to be enrolled in qualifying Nigerian public or non-public tertiary establishments, be no less than 18 years outdated, present the required scholar data and possess a sound Bank Verification Number (BVN). Postgraduate college students are excluded beneath the printed phrases.
The Foundation has additional clarified that the initiative just isn’t a money grant or refund to college students. Rather, it might fund a separate utility for extra shares within the scholar’s title.
The scholar initiative comes as Dangote Petroleum Refinery and Petrochemicals FZE undertakes a significant public share providing meant to broaden possession of the economic facility and lift capital for enlargement.
The IPO entails a proposal of 4.1 billion bizarre shares at N525 every, concentrating on roughly N2.15 trillion, equal to about $1.6 billion. The supply opened on September 14, 2026, following regulatory approval. Its time limit was subsequently prolonged from October 13 to October 27, 2026, to supply extra traders with a possibility to take part.
The refinery, situated within the Lekki space of Lagos State, was developed at an estimated price of $20 billion and has a said manufacturing capability of 700,000 barrels per day. The deliberate enlargement is anticipated to extend its capability to 1.4 million barrels per day over the subsequent three years.
The proposed share sale is critical as a result of it affords members of the general public a possibility to accumulate an possession curiosity in one in every of Nigeria’s main industrial investments, topic to the phrases of the supply and the allotment course of.
The public supply can be meant to broaden retail participation within the capital market by making shares accessible by way of permitted subscription channels, together with digital platforms.
For the training sector, the Foundation’s initiative affords a possibility to introduce college students to the sensible workings of the capital market, together with share subscriptions, funding documentation, id verification, possession data and the dangers related to fairness investments.
Alausa stated the initiative’s academic and developmental worth lies in encouraging younger individuals to grasp funding past standard classroom instruction and to understand the significance of economic accountability.
The programme might additionally encourage discussions in tertiary establishments about private finance, entrepreneurship, company possession and the connection between financial savings and long-term wealth creation.
However, share possession doesn’t routinely assure income or monetary safety. The worth of shares might rise or fall, and traders ought to perceive the related supply paperwork and dangers earlier than making funding choices.
The Foundation’s printed phrases state that its extra share utility is discretionary and topic to relevant authorized and regulatory necessities. Even when an utility is submitted, the ultimate allotment stays topic to the IPO’s procedures.
The Securities and Exchange Commission (SEC) has additionally suggested potential traders to acquire data by way of official channels, confirm the authenticity of internet sites and platforms earlier than offering private or monetary data and make funds solely by way of permitted subscription channels.
Alausa, whereas appreciating the Foundation’s contribution to youth growth, clarified that the ministry’s commendation of the initiative shouldn’t be interpreted as an endorsement of any specific funding resolution.
He additionally inspired different company organisations to develop programmes that help training, monetary inclusion and youth empowerment, saying stronger collaboration between authorities and the non-public sector might assist equip younger Nigerians for a extra productive and financially knowledgeable future.
The minister reaffirmed that the Federal Government would proceed to pursue partnerships that strengthen the connection between training, sensible expertise, enterprise and nationwide growth.
