Dangote Foundation targets two million women for refinery share ownership

The Aliko Dangote Foundation plans to partner with state governments to help up to two million vulnerable women across Nigeria acquire shares in the Dangote Petroleum Refinery and Petrochemicals Limited through its proposed initial public offering.

Dangote Industries Limited President and Chief Executive, Aliko Dangote, disclosed this in New York during the 81st United Nations General Assembly.

He was responding to a question from the Yobe State Secretary to the Government, Dr Goje Mohammed, on how public-private partnerships could help women affected by conflict and other vulnerable groups build sustainable sources of income.

Dangote said the Foundation would work with state governments to facilitate the participation of widows, conflict victims and other vulnerable women in the refinery’s share offering.

“We are partnering with state governments to ensure that widows and other vulnerable women are able to buy shares in the refinery,” he said.

He added that the Foundation would provide additional shares to women who participate in the IPO, giving them an opportunity to build long-term financial assets.

“Beyond enabling them to buy shares, the Foundation will also support them by donating additional shares that they can hold as savings for the future,” Dangote said.

According to him, the initiative is expected to reach about two million women nationwide.

“We are looking at reaching about two million women through this initiative,” he added.

The proposed programme is linked to the Dangote Refinery’s “People’s IPO”, an initiative aimed at widening public participation in ownership of the refinery through the capital market.

The Foundation said the partnership with state governments would provide a structured mechanism for vulnerable women to participate in the offering and gain direct ownership in the refinery.

The initiative could be particularly relevant to women in conflict-affected states such as Yobe, where years of insecurity have left many widows and vulnerable households facing economic hardship.

Through the proposed arrangement, participating women would not only gain access to the refinery’s share offering but would also receive additional shares from the Foundation as part of the planned support.

The initiative is expected to combine financial inclusion with women’s economic empowerment by giving beneficiaries an opportunity to build assets through equity ownership.

Dangote said collaboration between the Foundation and state governments would be central to ensuring that the share-ownership opportunity reaches women who may otherwise have limited access to Nigeria’s capital market.