Ondo to Buy Dangote Refinery Shares for 500 Youths, Support 1,000 Entrepreneurs

The Ondo State Government in Nigeria has announced plans to purchase shares in Dangote Petroleum Refinery for 500 youths as part of efforts to expose young people to investment opportunities and increase their participation in the capital market.

Governor Lucky Aiyedatiwa announced the initiative at the 2026 Ondo State Entrepreneurs Summit held at The Dome in Akure, where more than 8,000 entrepreneurs gathered to discuss emerging business and investment opportunities.

The governor also launched the “Lucky Light Initiative”, a programme designed to provide support to 1,000 entrepreneurs across the state’s 18 Local Government Areas.

Aiyedatiwa said the planned investment in Dangote Refinery shares would complement other forms of support being provided to entrepreneurs, including funding and mentorship for 20 participants recognised for their performance at the summit.

“Apartside the 20 beneficiaries, I will purchase Dangote IPO Refinery shares for 500 youths,” Aiyedatiwa said.

He urged entrepreneurs to look beyond simply starting businesses and focus on building sustainable enterprises that can withstand changes in markets, technology and consumer behaviour.

According to the governor, the government’s role is not to create dependency but to provide an environment where entrepreneurs can identify and access opportunities that support sustainable growth.

Aiyedatiwa also encouraged beneficiaries to use the support responsibly, fulfil their tax obligations and mentor others. He urged entrepreneurs who were not selected for direct support to apply the knowledge and experience gained at the summit to strengthen their businesses.

The summit was organised by Sumi Smart Francis, Special Adviser to the Governor on Entrepreneurship and Innovation, under the theme, “Positioning Entrepreneurs for Emerging Opportunities.”

The planned investment in Dangote Refinery shares is expected to give the 500 selected youths exposure to the capital market, while the Lucky Light Initiative will extend direct support to businesses across Ondo State’s 18 LGAs.