Nigeria’s Minister of Education, Dr Tunji Alausa, has commended Aliko Dangote and the Aliko Dangote Foundation over a plan to empower up to four million tertiary institution students through shares in Dangote Refinery.
Under the proposed initiative, eligible students aged 18 and above are expected to benefit from 10 shares in Dangote Petroleum Refinery and Petrochemicals FZE, with the foundation covering the cost of the additional share application.
Alausa described the initiative as a forward-looking approach to youth empowerment, financial literacy and wealth creation, saying it would expose students to the workings of the capital market and encourage responsible investment habits.
The minister said the programme aligns with the Federal Government’s Nigeria Education Sector Renewal Initiative and President Bola Tinubu’s Renewed Hope Agenda, particularly in promoting human capital development and inclusive economic growth.
He also urged other private sector organisations to introduce similar initiatives that would support young Nigerians and help prepare them for greater economic participation.
However, Alausa clarified that the ministry’s commendation should not be interpreted as an endorsement of the refinery shares as an investment.
Important clarification: The foundation’s share grant scheme is not simply a free gift to every student. Under the published programme terms, eligible students must first subscribe for at least 10 shares, worth ₦5,250 at the offer price of ₦525 per share, and satisfy the relevant requirements to qualify for consideration for an additional 10 shares funded by the foundation. Share allotment is not guaranteed.
The initiative is intended to promote financial inclusion and introduce young Nigerians to investment and ownership in the capital market.
