Coker Empowers 600 Lagos Island Residents With Dangote Refinery Shares
By Sherif Salau
All Progressives Congress (APC) chieftain, Biodun Coker, has empowered more than 600 residents of Lagos Island with shares in the Dangote Refinery, in what he described as a deliberate move to promote sustainable wealth creation and financial inclusion at the grassroots.
Under the initiative tagged, “From APC Membership to Dangote Refinery Share Ownership,” Coker acquired 10,000 shares in the refinery for distribution to beneficiaries drawn from various political wards and grassroots groups across the local government area.
At a presentation ceremony held at the Drivers Institute on Lagos Island, beneficiaries received between 10 and 20 shares each, with symbolic share certificates presented to them as evidence of their participation in the landmark investment.
Coker said the initiative was designed to move away from the conventional approach to political empowerment, which he noted often focuses on immediate needs such as cash, food items and other consumables.
According to him, investing in the beneficiaries through share ownership would provide a more enduring form of empowerment by giving them an opportunity to build wealth and participate in Nigeria’s growing industrial economy.
«“The idea was to ensure something that would last them for years,” Coker said, expressing optimism that the value of the shares would appreciate over time while potentially providing beneficiaries with dividends and other financial benefits.»
He explained that the initiative was inspired by Aliko Dangote’s vision of making ordinary Nigerians part-owners of the refinery through a people-oriented Initial Public Offering (IPO).
Coker said beyond the immediate financial value of the shares, the programme was intended to introduce beneficiaries to the culture of investment, ownership and financial planning, particularly those who may have had little or no access to formal investment opportunities.
The Director of the Biodun Coker Foundation, Lekan Adeleke, said the initiative represented a fresh approach to grassroots empowerment, combining recognition of long-standing political participation with an opportunity for beneficiaries to secure a stake in one of Africa’s biggest industrial projects.
He said the programme was also aimed at deepening financial inclusion among families in the community by exposing them to investment opportunities that could generate long-term value.
The share ownership initiative is the latest in a series of interventions associated with Coker in Lagos Island. His previous programmes have included ICT training for more than 1,000 residents, donations of equipment to public schools, health insurance support for households, as well as capacity-building initiatives for community leaders and security personnel.
Party stakeholders at the event commended the initiative, describing it as an innovative model of political empowerment capable of giving beneficiaries a tangible stake in Nigeria’s economic development.
