The Ondo State Government is set to purchase shares in Dangote Petroleum Refinery for 500 youths as part of measures to expose young entrepreneurs to investment opportunities and increase their participation in the financial market.

Governor Lucky Aiyedatiwa disclosed the plan during the 2026 Ondo State Entrepreneurs Summit, held at The Dome in Akure. More than 8,000 entrepreneurs attended the summit, which focused on emerging opportunities in the business environment.

At the event, the governor also launched the “Lucky Light Initiative”, a programme aimed at supporting 1,000 entrepreneurs across Ondo State’s 18 Local Government Areas.

Aiyedatiwa said the proposed investment in Dangote Refinery shares would add to other forms of assistance being offered to entrepreneurs. These include funding and mentorship for 20 participants who were recognised for their performance during the summit.

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

The governor urged entrepreneurs to look beyond establishing businesses and concentrate on developing enterprises that can withstand shifts in markets and technology.

He said the government’s responsibility was not to foster dependency, but to create an environment that enables entrepreneurs to identify and access opportunities capable of supporting sustainable growth.

Aiyedatiwa further urged beneficiaries to make responsible use of the support, fulfil their tax obligations and mentor other entrepreneurs. He also encouraged participants who were not chosen for direct assistance to apply lessons from the summit to improve and 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 proposed Dangote Refinery share purchase is expected to provide the 500 selected youths with exposure to the capital market alongside the entrepreneurship support being offered by the state.

Meanwhile, the Lucky Light Initiative is designed to expand direct business assistance to entrepreneurs across all 18 Local Government Areas of Ondo State.

Source: msmeafricaonline.com