APC Grassroots Supporters Become Dangote Refinery Shareholders

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About 600 residents of Lagos Island Local Government Area have become prospective shareholders in the Dangote Refinery as part of a new empowerment initiative designed to shift political support from conventional handouts to long-term economic ownership.

The initiative, spearheaded by All Progressives Congress (APC) chieftain, Biodun Coker, involves the sponsorship of 10,000 Dangote Refinery shares for selected beneficiaries drawn from political wards and groups across the council.

Each beneficiary will receive between 10 and 20 shares, alongside financial literacy and investment education aimed at equipping them with the knowledge to manage and grow their investments.

Speaking at the presentation of the share certificates, Coker said the initiative was designed to redefine the meaning of empowerment by giving party members an asset that could potentially create value beyond the immediate benefits of conventional political support.

“Our members should not only participate in the politics of Nigeria. Our members should also participate in the economic opportunities of Nigeria,” he said.

Coker said the idea was partly inspired by former Lagos State Governor, Babatunde Fashola, SAN, who had questioned whether political parties adequately understood their members and connected them to opportunities.

He said remarks by Dangote on his desire to enable ordinary Nigerians, including drivers, cooks and workers, to own shares in the refinery further strengthened the idea.

Coker said the initiative was therefore conceived to combine grassroots political participation with economic ownership.

He stressed that the programme was not simply about distributing shares but about encouraging beneficiaries to develop a culture of saving, investing and building assets for the future.

“Sometimes empowerment should mean helping somebody own something that can have value tomorrow,” he said.

The Chairman of the APC in Lagos Island, Suraj Ali-Balogun, described the initiative as a departure from conventional empowerment programmes.

He said the beneficiaries were receiving an asset that could remain valuable for years, rather than items that would be consumed shortly after distribution.

“This present empowerment is a futuristic empowerment,” Ali-Balogun said, adding that the beneficiaries could preserve the investment for themselves or pass it on to their children and dependants.

He described Coker's approach as one that teaches people how to create sustainable wealth rather than simply giving them temporary relief.

“Coker doesn't give you fish; he teaches you how to fish,” Ali-Balogun said.

Also speaking, APC chieftain in the council, Chief Babajide Damazio, commended the initiative and described Coker as a role model and inspiration to youths in the area.

He thanked Coker for committing substantial resources to the project.

Another party leader, Alhaji A.G. Sadiq, described the initiative as a lifetime investment for the beneficiaries.

He, however, urged the beneficiaries to reciprocate the gesture by supporting all APC candidates, including President Bola Ahmed Tinubu and Dr. Kadri Hamzat, in the 2027 general elections.

Director of the Biodun Coker Foundation, Lekan Adeleke, said the initiative represented a new approach to empowerment advocacy and a symbol of shared prosperity for grassroots supporters.

Adeleke said the beneficiaries had become shareholders in the Dangote Refinery and described the initiative as the beginning of a journey towards financial freedom for residents of Lagos Island.

He listed other interventions by Coker, including a Computer/ICT Literacy Programme that benefited more than 1,000 residents, support for Holy Trinity Primary School, an HMO scheme covering over 1,000 residents and capacity-building programmes for political leaders and security personnel.

Financial experts at the event, Akindele Ogundepo and Ifeoluwa Akinmade, urged the beneficiaries to regard the shares as long-term investments and resist the temptation to dispose of them unnecessarily.

They advised them to continue learning about investment and to begin building personal investment portfolios rather than waiting until they became wealthy.

Some of the beneficiaries expressed excitement over becoming prospective shareholders, saying they looked forward to earning returns from their investments in the future.

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