LAGOS/Nigeria: A Lagos Island chieftain of the All Progressives Congress (APC), Biodun Coker, has introduced an investment-based approach to grassroots empowerment by supporting party members to acquire shares in the ongoing Dangote Refinery public offer.
The initiative, organised under the theme “From APC Membership to Dangote Refinery Share Ownership,” combines share ownership with financial literacy training designed to help beneficiaries understand and manage their investments.
Coker, a chartered accountant and former APC chairmanship aspirant in the Lagos Island council election, said the programme was conceived to broaden the meaning of political empowerment beyond the distribution of cash and consumable items.
He said the objective was to help ordinary party members develop assets that could retain value beyond the immediate political cycle.
According to him, discussions about how political parties could better recognise and reward the contributions of their grassroots members influenced the initiative, particularly questions raised by former Lagos State Governor, Babatunde Fashola, during an APC stakeholders’ engagement.
Coker said the Dangote Refinery share offer provided an opportunity to translate those discussions into a practical investment initiative.
He explained that hearing about the participation of ordinary Nigerians, including workers in informal and low-income occupations, in the refinery’s ownership structure prompted him to consider how grassroots party members could also benefit from the opportunity.
He stressed that the initiative should not be interpreted as the APC buying shares for its members, but rather as an attempt to expose them to an investment opportunity and provide the support required to participate.
“Empowerment should not always mean giving somebody something that will be spent today. Sometimes, empowerment should mean helping somebody own something that can have value tomorrow,” he said.
Coker said political organisations should complement immediate welfare interventions with programmes that provide members with knowledge, networks and opportunities capable of improving their economic circumstances over time.
He also emphasised the importance of financial education, saying ownership without adequate understanding could undermine the purpose of an investment programme.
He urged the beneficiaries to keep proper records of their investments, understand what they own and develop disciplined savings and investment habits.
The financial literacy component of the programme was facilitated by CFG Africa, which provided guidance on investment and responsible management of financial assets.
Deputy Chairman of the Lagos State APC, Alhaji Moshood Mayegun, described the initiative as a long-term form of empowerment capable of producing benefits beyond the immediate event.
“This is a long-lasting empowerment for the people of Lagos Island and our party members,” he said, expressing confidence that the beneficiaries would appreciate the initiative over time.
The APC Chairman in Lagos Island Local Government Area, Suraj Alli-Balogun, said the programme differed from conventional empowerment schemes because it focused on creating an asset rather than providing something intended for immediate consumption.
He described the initiative as “permanent and futuristic,” saying beneficiaries could potentially retain the investment for years and pass its benefits to their families.
Alli-Balogun also commended Coker for adopting what he described as a distinctive approach to grassroots engagement and empowerment.
Director of the Biodun Coker Foundation, Lekan Adeleke, said the initiative was designed to move grassroots party members from political participation towards asset ownership and long-term financial planning.
He said the programme represented an attempt to introduce a different model of empowerment in which political loyalty could be complemented by financial education and opportunities for wealth creation.
The programme attracted APC leaders and stakeholders from Lagos Island, including the member representing Lagos Island I Federal Constituency in the House of Representatives, Dolapo Badru.
The organisers said the initiative was intended not only to provide beneficiaries with an investment opportunity but also to encourage a culture in which grassroots empowerment includes financial knowledge, ownership and long-term planning.
