Two million vulnerable women across Nigeria are being targeted for a landmark wealth-creation initiative that would give them direct ownership stakes in the Dangote Petroleum Refinery through its planned Initial Public Offering (IPO).
President and Chief Executive Officer of Dangote Industries Limited, Aliko Dangote, disclosed the plan in New York during the 81st United Nations General Assembly, saying the Aliko Dangote Foundation would partner state governments to help widows, conflict victims and other vulnerable women acquire shares in the refinery.
The initiative goes beyond providing immediate financial assistance, as participating women would be positioned to build personal assets through equity ownership in one of Africa’s largest industrial enterprises.
Dangote said the Foundation would provide additional shares to women who participate in the scheme, effectively giving beneficiaries a further financial asset that could be retained as savings for the future.
“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 explained that the Foundation’s intervention would extend beyond helping beneficiaries finance their initial purchases, with additional shares donated to strengthen their long-term ownership position.
“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 added.
The initiative emerged from a discussion with the Secretary to the Yobe State Government, Dr Goje Mohammed, on how government-private sector partnerships could create sustainable economic opportunities for communities affected by conflict.
Rather than limiting intervention to grants or welfare support, the proposed scheme seeks to connect vulnerable women to the capital market by making them shareholders in a major Nigerian industrial asset.
The partnership with state governments is expected to provide a framework for identifying eligible beneficiaries and facilitating their participation in the refinery’s share offering.
The proposed arrangement could therefore give beneficiaries two layers of ownership: shares acquired through the investment scheme and additional shares donated by the Foundation, creating an asset that can be preserved as a long-term financial resource.
Dangote said the broader objective was to enable women who might ordinarily remain outside Nigeria’s investment market to participate in equity ownership and build financial security through assets rather than relying solely on direct assistance.
