Young Nigerians in tertiary institutions are being targeted for early exposure to saving, responsible investing and asset ownership under a new financial literacy initiative launched by the Aliko Dangote Foundation, ADF.
The Student Share Grant Initiative is open to students aged 18 years and above in public and private tertiary institutions across Nigeria and is designed to combine financial education with practical participation in the formal investment process.
Under the initiative, an eligible student who completes the required verification and applies in their own name for at least 10 shares in the Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE through the designated channel will qualify for ADF to fund an application for an additional 10 shares in the student’s name at no cost to the student.
However, the foundation said funding the additional application does not guarantee that the shares will be allotted. Both applications remain subject to the applicable IPO terms, allotment procedures and outcome of the offer.
Chairman of the Aliko Dangote Foundation, Alhaji Aliko Dangote, said the initiative was intended to extend youth empowerment beyond education by giving young people an understanding of how economic value is created and how they can participate in it.
“Supporting young people goes beyond expanding access to education; it also means giving them the knowledge and opportunity to understand how economic value is created and how they can participate in it,” Dangote said.
He said early exposure to investment and ownership could help young Nigerians develop more informed financial habits and participate more confidently in the formal economy.
Chief Executive Officer of the foundation, Mrs Zouera Youssoufou, said practical experience was important to developing financial literacy.
“Financial literacy is strengthened when people have an opportunity to put knowledge into practice,” she said, adding that the initiative would expose eligible students to processes including verification, application, allotment and ownership.
Youssoufou said the objective extended beyond participation in a single transaction, with the foundation seeking to encourage a longer-term interest in financial literacy, responsible investment and asset ownership.
Eligible students can complete the required verification process through the foundation’s designated platform before being directed to the subscription channel for the IPO.
The foundation said the initiative applies only to eligible students participating in the DPRP IPO through the designated channel. It cannot be used to apply for shares in another person’s name, another Dangote company or another company’s securities.
ADF also stressed that the Student Share Grant Initiative is separate from the offer and administration of the DPRP IPO, which remains subject to its offer documentation, regulatory requirements, terms and transaction procedures.
The foundation said participation is voluntary and that the initiative should not be regarded as investment advice or a recommendation to acquire DPRP shares.
It advised prospective participants to review the applicable IPO documentation as well as the initiative’s frequently asked questions, terms and conditions and privacy notice before participating.