KEY POINTS
- The Biodun Coker Foundation disbursed N5.25 million to All Progressives Congress (APC) members in Lagos Island on Saturday to acquire shares in the Dangote Refinery Initial Public Offer.
- Titled “From APC Membership to Dangote Refinery Share Ownership,” the initiative ensures each beneficiary receives a minimum of 10 shares alongside financial literacy training conducted by CFG Africa.
- Foundation founder Biodun Coker emphasized that the program aims to foster grassroots wealth creation and long-term asset ownership rather than temporary cash handouts.
MAIN STORY
The Biodun Coker Foundation has launched an innovative grassroots empowerment initiative, distributing N5.25 million to members of the All Progressives Congress (APC) in Lagos Island on Saturday, October 3, 2026.
Designed to foster sustainable economic mobility, the funds are earmarked for purchasing shares in the highly anticipated Dangote Refinery Initial Public Offer (IPO), ensuring that each participant secures a minimum of 10 shares alongside professional financial literacy and investment training administered by CFG Africa.
Speaking at the event, foundation founder Biodun Coker explained that the program—aptly themed “From APC Membership to Dangote Refinery Share Ownership”—stemmed from a desire to reward party loyalty while extending tangible ownership stakes in national industrial landmarks to everyday citizens.
Coker noted that traditional empowerment models often rely on short-term consumables, stating that sustainable upliftment must focus on helping individuals acquire appreciating assets for the future. Foundation Director Lekan Adeleke added that the scheme is designed to transition grassroots members from conventional political participation into long-term asset building and disciplined saving habits.
Local leaders rallied behind the initiative, praising its visionary structure. Suraj Alli-Balogun, the APC chairman in Lagos Island Local Government Area, lauded Coker for adopting a transformative approach to community development, describing the share distribution as a permanent and futuristic investment that beneficiaries can retain and pass down to their children. The event drew prominent regional figures, including federal lawmaker Dolapo Badru, who represents the Lagos Island I Federal Constituency in the House of Representatives, alongside other key party stakeholders.
THE ISSUES
- Transitioning grassroots empowerment frameworks from cash-based handouts to structured equity investments is critical for building enduring household wealth and financial inclusion.
- Expanding retail participation in major industrial Initial Public Offers requires targeted financial literacy training to ensure long-term investor retention and asset management.
WHAT’S BEING SAID
“Empowerment should not always mean giving somebody something that they spend the same day. Sometimes, empowerment should mean helping somebody own something that can have value tomorrow.”
- Biodun Coker, Founder, Biodun Coker Foundation
“This is permanent and futuristic. The beneficiaries are not only taking something home today. They can gain from it in the coming years and even pass it on to their children.”
- Suraj Alli-Balogun, APC Chairman, Lagos Island Local Government Area
WHAT’S NEXT
Beneficiaries will complete the CFG Africa financial literacy program while foundation coordinators finalize the share allocation and portfolio record-keeping procedures for the Dangote Refinery IPO.
BOTTOM LINE
The Biodun Coker Foundation has distributed N5.25 million to Lagos Island APC members to purchase Dangote Refinery IPO shares, pioneering a futuristic model of grassroots wealth creation.
