Lagos, Nigeria — Aliko Dangote has transferred 1. 1 million U. S.
Dollars to a new postgraduate scholarship pool reserved for Nigerian business graduates, according to local reports released this week.
The gift, confirmed by sources close to the industrialist’s foundation, will cover tuition and living costs for an initial cohort of MBA candidates at accredited universities inside the country. Officials overseeing the fund say applications will open next month; selection will be based on academic record and demonstrated interest in domestic enterprise development.
Dangote, whose net worth is widely estimated at roughly 13 billion dollars, has previously directed parts of his wealth toward health and agricultural projects.
Observers note that this latest move aligns with a pattern of Africa’s ultra-high-net-worth individuals endowing education schemes rather than relying on state funding alone. Independent observers say the shift may encourage other private-sector leaders to create similar grant streams.
The scholarship announcement arrives amid rising demand for advanced management training in Nigeria, where public university budgets remain constrained. Regional officials confirmed that the fund will operate under existing tax-exempt charity regulations, though exact disbursement timelines were not released. Recipients will be required to remain in Nigeria for at least three years after graduation, a provision aimed at retaining managerial talent.
Further details, including the number of annual awards, were not immediately available. Further details are expected.
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Source: Africa.
