A total of 600 residents of Lagos Island Local Government Area have benefited from an initiative by All Progressives Congress (APC) chieftain Biodun Coker, which provides shares in the Dangote Refinery. The initiative, tagged “From APC Membership To Dangote Refinery Share Ownership,” aims to promote financial literacy and empower party members and residents. Beneficiaries from various political wards and groups across the council will receive 10 to 20 shares each from the 10,000 total shares.
The symbolic handing over of the Share Certificates took place at the Drivers Institute in Lagos Island. Coker stated that the idea was a departure from the regular distribution of items and foodstuffs as empowerment for party members and residents. He said the inspiration to purchase Dangote shares for the beneficiaries was to ensure financial literacy and something that would last them for years.
Coker expressed happiness that Alhaji Aliko Dangote wanted ordinary Nigerians to be part of the expansion of his project, assuring them that the shares would multiply in due course. He stressed that the initiative was also to directly reward party members for their sustained loyalty and sacrifices over the years. The initiative has been applauded by party chieftains, who described it as a lifetime investment for the beneficiaries.
Chief Babajide Damazio, a party chieftain, praised the initiative’s ingenuity and described Coker as a role model and inspiration to the youth in the area. Alhaji A.G. Sadiq, an Apex leader in the council, urged the beneficiaries to return to their polling wards and deliver votes to all party candidates during the 2027 general elections. The Director of Biodun Coker Foundation, Mr. Lekan Adeleke, noted that the initiative was a rethink of empowerment advocacy to ensure every family member is significantly rewarded for supporting the party.
According to Adeleke, the bold move represents the party’s symbol and is for the sheer prosperity of their contributions to the party. He added that the beneficiaries have become shareholders in one of the largest refineries in the world. The initiative marks the beginning of financial freedom for residents of Lagos Island, Adeleke said. Coker has positively impacted the lives of residents through various initiatives, including a Computer/ICT Literacy programme and a Public School Initiative.
Financial Experts Akindele Ogundepo and Ifeoluwa Akinmade advised people to invest in their future instead of spending all their earnings unnecessarily. They cautioned against wanting to be so rich before divesting or subscribing to shares. Some beneficiaries expressed their joy, saying they look forward to the shares yielding dividends in a few years.
The initiative has been described as a significant step towards promoting financial literacy and empowering residents. With this initiative, Coker aims to make a lasting impact on the lives of party members and residents. The shares are expected to appreciate in value over time, providing a long-term source of financial security for the beneficiaries.
Key points
- APC chieftain Biodun Coker empowers 600 Lagos Island residents with shares in the Dangote Refinery.
- The initiative aims to promote financial literacy and empower party members and residents.
- Beneficiaries will receive 10 to 20 shares each from the 10,000 total shares.
