*Aliko Dangote, President/Chief Executive of Dangote Group, emphasises that greater understanding of share investment and ownership can help young Nigerians to make better-informed financial decisions throughout their lifetime
Alexander Davis | ConsumerConnect
Aliko Dangote Foundation (“ADF”) has launched its Student Share Grant Initiative, a financial inclusion and investor education initiative to encourage a culture of saving, responsible investing, and long-term asset ownership among young Nigerians.
Dangote Group, in a statement, explained the Initiative is open to students aged 18 years and above enrolled in public and private tertiary institutions across Nigeria.
The conglomerate, however, said the youth investment initiative is subject to applicable verification and eligibility requirements.
Dangote also said under the initiative, an eligible student who successfully completes the required student verification process and applies, in their own name and for their own benefit, for a minimum of 10 shares in the Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE (DPRP) through the designated participation channel (ipo.alikodangotefoundation.org) will qualify for ADF to fund the application for an 10 additional DPRP shares in that student’s name, at no additional cost to the student.
The ADF’s funding of the additional application, however, clarified that this would not guarantee the allotment of the additional shares.
Both the student’s application and the ADF-funded application remain subject to the applicable IPO terms, allotment procedures, and outcome of the IPO, and any shares allotted pursuant to the ADF-funded application will be allotted in accordance with the applicable IPO procedures.
The Initiative forms part of ADF’s broader commitment to empowering young Nigerians by promoting financial literacy, encouraging informed participation in the formal financial system and helping young people develop an early understanding of saving, responsible investment and asset ownership.
Speaking on the Initiative, Alhaji Aliko Dangote, Chairman of the Aliko Dangote Foundation, said supporting young people should extend beyond access to education to equipping them with the knowledge and opportunities to participate meaningfully in economic value creation.
Dangote stated: “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.
“We want Nigerian students to understand the importance of saving, investing responsibly and long-term ownership. “Through this Initiative, we hope to introduce more young people to the principles of investment and encourage them to begin developing an investment culture early in life”
According to the President/Chief Executive of Dangote Group, greater understanding of investment and ownership can help young Nigerians make better-informed financial decisions throughout their lives.
He equally noted: “This is ultimately about developing a mindset. When young people understand investment and ownership early, they are better equipped to make informed financial decisions and participate more confidently in the formal economy.”
In her remarks on the youth investment concept,
Mrs. Zouera Youssoufou, Chief Executive Officer (CEO) of Aliko Dangote Foundation, said the initiative was designed to combine financial education with practical experience.
Youssoufou said: “Financial literacy is strengthened when people have an opportunity to put knowledge into practice.
“This Initiative gives eligible students an opportunity to experience the formal investment process for themselves, from verification and application to understanding allotment and ownership, while encouraging responsible and informed participation in the capital market.”
She further noted: “Our objective goes beyond participation in a single transaction.
“We want to encourage students to develop a lifelong interest in financial literacy, responsible investing and asset ownership.”
Dangote Group said the eligible students aged 18 years, and above who are enrolled in public or private tertiary institutions in Nigeria might visit ipo.alikodangotefoundation.org to complete the required student verification process.
Following successful verification, eligible students will be directed to the designated subscription channel through which they may apply, in their own name and for their own benefit, for a minimum of 10 DPRP shares, being the minimum application size under the IPO.
The company, in the statement, said eligible students who completed the required process would qualify for ADF to fund an application for 10 additional DPRP shares in their names.
The ADF-funded application is provided at no cost to the eligible student, Dangote stated.
It equally noted that the initiative applies only to eligible students participating in the DPRP IPO through the designated participation channel.
According to the company, it cannot be used to apply for shares in another person’s name, shares in any other Dangote company, or securities of any other company.
The Student Share Grant Initiative is an ADF programme and is separate from the offer and administration of the DPRP IPO.
The IPO remains subject to its applicable offer documentation, regulatory requirements, terms and transaction procedures.
Participation in the Initiative is voluntary.
The Initiative is intended to support financial literacy and broaden access to investment participation and should not be regarded as investment advice or a recommendation by ADF to acquire DPRP shares.
Prospective participants should carefully review the applicable IPO documentation and make their own investment decisions.
Students are also encouraged to carefully review the FAQs, Terms and Conditions and Privacy Notice relating to the Aliko Dangote Foundation Student Share Grant Initiative before participating.
Further information on the Initiative, including eligibility requirements and participation procedures, is available at: ipo.alikodangotefoundation.org.