ADF funds extra 10 Dangote Refinery shares for eligible Nigerian students
ADF launched a Share Grant Initiative that could give eligible Nigerian tertiary students an extra application for 10 Dangote Refinery shares at no cost. To qualify, students must personally apply for at least 10 shares in the Dangote Refinery IPO (opened Sept 14, closes Oct 13, price ₦525/share, min ₦5,250). If eligible and the Foundation chooses to fund the extra application, ADF will submit another 10‑share application worth ₦5,250, potentially giving up to 20 shares valued at ₦10,500 if both are allotted.
The initiative targets undergraduates in approved private, federal or state tertiary institutions; postgraduate students are excluded. Eligibility is verified via name and matriculation number against an approved student database, separate from the KYC checks required for the IPO. ADF stresses the extra application is not guaranteed and is capped at 10 shares per student, regardless of how many shares the student applies for. The Foundation noted it is not the issuer, issuing house, registrar, stockbroker or operator of the securities‑market infrastructure, so all applications, payments, allotments and refunds follow the DPRP IPO prospectus and capital‑market rules.
Students should visit the ADF student portal, complete verification, and subscribe for at least 10 shares (₦5,250) before the Oct 13 deadline. While the extra shares could double the allocation, they are not assured, and students must still meet KYC requirements to hold the shares. Will you allocate ₦5,250 for the chance to receive up to 20 Dangote Refinery shares, or prefer to use those funds elsewhere?