Nigerian students have until Tuesday, 27 October 2026 to apply for the Aliko Dangote Foundation Student Share Grant. Under the scheme, a student who buys at least 10 shares in the Dangote Petroleum Refinery IPO can get 10 extra shares funded by the foundation.
The Federal Ministry of Education has welcomed the plan, saying it could reach up to 4 million students. Here’s how it works, who qualifies, what it costs and the risks to understand before you take part.
The scheme at a glance
| Run by | Aliko Dangote Foundation (Student Share Grant Initiative) |
|---|---|
| Company | Dangote Petroleum Refinery and Petrochemicals FZE (the refinery IPO only) |
| Offer price | ₦525 per share |
| What you buy | At least 10 shares (₦5,250) |
| What the foundation may add | 10 more shares (worth ₦5,250 at the offer price) |
| Possible total | 20 shares, worth ₦10,500 at the offer price, if both applications are fully allotted |
| Closing date | 27 October 2026 |
Who qualifies
- Students aged 18 or older.
- Enrolled in a public or private Nigerian tertiary institution: university, polytechnic or college of education.
- Postgraduate students are not included.
- You must apply in your own name, and only once.
What you’ll need
- Your institution’s name and your matriculation number.
- Your BVN (Bank Verification Number).
- A working email address and phone number.
- ₦5,250 or more to pay for your own 10 shares.
The platform carries out identity (KYC) and student-status checks, so make sure your name matches across your bank, BVN and school records.
How to apply
- Visit the foundation’s IPO portal at ipo.alikodangotefoundation.org/students.
- Enter your student details, including your matriculation number.
- Complete identity and student-status verification.
- Buy at least 10 shares through the subscription channel on the platform.
- If you qualify, the foundation may fund a separate application for 10 additional shares in your name.
Important things to understand
- The bonus isn’t guaranteed. The foundation says neither its funding nor the final allotment of shares is guaranteed. Large IPOs are often oversubscribed, so people can receive fewer shares than they applied for.
- Shares can go down as well as up. The foundation doesn’t promise any returns. If the share price falls after listing, the value of your shares falls too.
- Only put in money you can afford. Don’t use school fees, hostel money or a student loan to buy shares.
- Nobody can guarantee you shares for a fee. Be wary of anyone who asks you to pay them to “secure” free shares.
Why it matters for students
Education Minister Dr Tunji Alausa described the plan as a forward-thinking way to build financial literacy, giving young people real exposure to the capital market. The ministry also stressed that its support isn’t an endorsement of any investment decision. In other words, students should make their own choice after understanding the risks.
For many students, this will be their first time owning shares. Even if you don’t take part, it’s worth learning how share ownership, dividends and price changes work. These are useful life skills.
Related: other support for students
If your main challenge is paying fees, look at options that don’t involve investing:
- NELFUND student loan: how to apply
- Federal Scholarship Board award
- Latest scholarships for Nigerian students
This article explains the scheme for information only. It isn’t financial advice.
