The Aliko Dangote Foundation plans to partner with state governments to support up to two million vulnerable women across Nigeria to participate in the ongoing Dangote Petroleum Refinery and Petrochemicals Limited Initial Public Offering, IPO.
President and Chief Executive of Dangote Industries Limited, Aliko Dangote, stated this in New York during the 81st United Nations General Assembly, while responding to a question from the Secretary to the Yobe State Government, Dr Goje Mohammed.
Dangote said the initiative would focus on vulnerable women, including widows and victims of conflict, by helping them acquire shares in the refinery and build long-term financial assets through equity ownership.
According to him, the Foundation would work with state governments to create a structured framework through which the women could participate in the IPO.
“We are partnering with state governments to ensure that widows and other vulnerable women are able to buy shares in the refinery,” Dangote said.
He added that the Foundation would provide additional support by donating shares to women who participate in the offering.
“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,” he said.
Dangote said the programme was expected to reach about two million women nationwide, expanding access to the capital market for people who might otherwise be excluded from investment opportunities.
The initiative forms part of the broader objectives of the Dangote Refinery “People’s IPO”, which seeks to broaden ownership of the refinery and enable more Nigerians to participate in the value created by the industrial project.
The proposed intervention is expected to have particular relevance in conflict-affected communities such as Yobe, where widows and vulnerable households continue to face economic challenges.
Dangote said the collaboration with state governments would strengthen efforts to use investment and equity ownership as tools for financial inclusion, economic empowerment and long-term wealth creation.