Foundation donates N5.25m for Dangote Refinery IPO
Lagos, Oct. 2026 (TBL Africa) The Biodun Coker Foundation on Saturday donated N5.25 million to members of the All Progressives Congress (APC) in Lagos Island to invest in the Dangote Refinery Initial Public Offer (IPO) to promote grassroots economic empowerment.
The initiative, with the theme, “From APC Membership to Dangote Refinery Share Ownership”, provides each beneficiary with a minimum of 10 shares, along with financial literacy and investment education.
Speaking at the event, founder of the foundation, Mr Biodun Coker, said the initiative was aimed at enabling party members to benefit from economic opportunities beyond political mobilisation.
“Empowerment should not always mean giving somebody something that will be spent today.
“Sometimes, empowerment should mean helping somebody own something that can have value tomorrow,” he said.
Coker, an APC chairmanship aspirant in the 2025 Lagos council election, said the initiative was inspired by conversations on rewarding party loyalty and giving ordinary Nigerians the opportunity to own shares in the Dangote Refinery.
Coker urged the beneficiaries to appreciate the value of their investments, maintain proper records and cultivate a savings and investment culture.
Lekan Adeleke, Director of the Biodun Coker Foundation, said the initiative was aimed at expanding economic opportunities for grassroots party members and promoting a culture of investment and financial responsibility.
“The programme would help beneficiaries move beyond political participation to asset ownership and long-term financial planning.
“This is the first of its kind, and I hope that beneficiaries will build on this,” he said.
Mr Suraj Alli-Balogun, Chairman of the APC in Lagos Island Local Government Area, said the programme stood out from conventional empowerment schemes, as it gave beneficiaries the opportunity to build assets with long-term value.
“Today’s programme is unique. It is different from the usual empowerment programmes we normally have because this is something permanent and futuristic.
“These beneficiaries are not just taking something home today; they are receiving something they can benefit from in the coming years and even pass on to their children,” he said.
Alli-Balogun said Coker had developed a distinctive approach to grassroots politics by focusing on initiatives that could provide lasting benefits to party members.
“He does not just give people fish; he teaches them how to fish. Coker has a unique pattern, and all of us in Lagos Island politics are proud of him,” he said.
The APC chairman expressed the hope that Coker would achieve his political aspirations, adding that his commitment to empowering people could translate into greater opportunities for constituents.
The programme also included a financial literacy and investment education session facilitated by CFG Africa to equip beneficiaries with the knowledge to manage and safeguard their investments.
The event was attended by representatives and leaders of the Lagos Island constituency, including Mr Dolapo Badru, who represents Lagos Island I Federal Constituency in the House of Representatives.
