How Nigerian students can get 10 free Dangote Refinery shares
Nigerian students aged 18 and above can now receive an additional 10 shares in Dangote Petroleum Refinery and Petrochemicals FZE at no extra cost under a new initiative by the Aliko Dangote Foundation.
The Foundation launched the Student Share Grant Initiative to give students practical experience with saving, investing and share ownership.
However, the 10 shares are not an outright giveaway to every student.
Eligible students must first complete the required verification and subscribe for at least 10 Dangote Refinery shares through the Foundation’s designated platform.
The Foundation will then fund an application for an additional 10 shares in the student’s name.
Here is what students need to know about the programme.
Dangote Foundation 10 free shares: Who can apply?
The programme is open to Nigerian students who are 18 years or older.
Applicants must also be enrolled in a recognised public or private tertiary institution in Nigeria.
This covers eligible students in universities, polytechnics and other recognised tertiary institutions.
The Foundation requires participants to complete a verification process before they can proceed with the share subscription.
The programme is therefore not open to every young Nigerian.
The student must meet the age and tertiary institution requirements.
Dangote Foundation 10 free shares: How does it work?
The process has two main parts.
First, an eligible student completes the required verification through the Foundation’s designated platform.
After successful verification, the student is directed to the designated subscription channel.
The student can then apply for a minimum of 10 shares in Dangote Petroleum Refinery and Petrochemicals FZE.
The minimum subscription for the ongoing IPO is 10 shares at ₦525 each.
That means the minimum subscription is worth ₦5,250.
Once the student completes the required process, the Foundation will fund an application for an additional 10 DPRP shares in the student’s name.
The Foundation will pay for that additional application.
Where can students register?
Eligible students can begin the verification process through the Foundation’s designated platform:
Dangote Foundation Student Share Grant platform.
Students should complete the verification before proceeding to the designated share subscription channel.
The Foundation says participants will be directed to the appropriate subscription channel after successful verification.
Students should also be careful when searching for the programme online.
The Foundation has warned that the initiative is tied to its designated participation channel. Applicants should avoid giving personal or financial information to unrelated websites or individuals claiming to offer the free shares.
How much do students need to pay?
The Foundation-funded 10 additional shares come at no extra cost to an eligible student.
However, the student must first subscribe for at least 10 DPRP shares.
The ongoing Dangote Refinery IPO offers shares at ₦525 each.
Therefore, a student applying for the minimum 10 shares needs ₦5,250 for that initial subscription.
The Foundation then funds the application for the additional 10 shares.
This means the initiative should not be described as giving students 20 shares completely free.
Rather, an eligible student who buys the minimum 10 shares can qualify for another 10 shares funded by the Foundation.
Are the additional 10 shares guaranteed?
The Foundation’s funding of the additional application does not mean that the student is guaranteed an allotment of all 10 shares.
The share application remains subject to the terms of the IPO and the applicable allotment process.
The distinction is important.
The Foundation is funding the additional application.
The final number of shares allotted depends on the applicable IPO process.
Students should therefore read the IPO documents before subscribing.
The Foundation itself said participation is voluntary and should not be treated as investment advice or a recommendation to buy DPRP shares.
Can a student apply for someone else?
No.
The initiative is designed for eligible students to participate in their own names.
A student cannot use the programme to purchase the shares for another person.
The Foundation also said the initiative cannot be used to acquire shares in another Dangote company or another company outside the DPRP IPO.
The additional application must also be made in the eligible student’s name.
What is the Dangote Refinery IPO?
The offer is an Initial Public Offering by Dangote Petroleum Refinery and Petrochemicals FZE.
The company is offering 4.1 billion ordinary shares at ₦525 per share.
The total offer is valued at about ₦2.15 trillion if fully subscribed.
The IPO opened on September 14 and is scheduled to close on October 13, 2026, subject to the terms of the offer.
The minimum application is 10 shares.
That gives the Student Share Grant Initiative a connection with the IPO’s existing minimum subscription.
The Foundation’s programme is designed specifically around student participation in that offering.
Why is Dangote Foundation giving students free shares?
The Foundation says the programme is designed to improve financial literacy among young Nigerians.
It also wants students to gain practical experience with the investment process.
That process includes verification, subscription, allotment and share ownership.
Aliko Dangote, chairman of the Foundation, said the programme is intended to help young people understand saving, responsible investment and long-term ownership.
The Foundation’s chief executive officer, Zouera Youssoufou, said the initiative is meant to combine financial education with practical experience in the capital market.
The Foundation also said its goal extends beyond the current IPO.
It wants participating students to develop a longer-term interest in financial literacy, investing and asset ownership.
Important things students should know
Students considering the programme should keep several points in mind.
You must be at least 18.
You must be enrolled in a recognised tertiary institution in Nigeria.
You must complete the required verification.
You must subscribe for at least 10 DPRP shares.
The minimum 10-share subscription costs ₦5,250 at the current IPO price of ₦525 per share.
The Foundation funds the application for the additional 10 shares.
The additional shares are subject to the IPO’s allotment process.
The programme is voluntary and is not investment advice.
The Foundation has advised prospective participants to review the relevant IPO documents before making an investment decision.
The Dangote Refinery IPO is currently open, but the offer is scheduled to close on October 13.
Students who want to participate should therefore check the Foundation’s designated platform and the official IPO documents before proceeding.