Aliko Dangote, President and Chief Executive of Dangote Industries Limited, has announced plans to support up to two million vulnerable women across Nigeria to participate in the Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals Limited.
Dangote disclosed 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, on using public-private partnerships to support conflict-affected communities.
He said the Aliko Dangote Foundation would collaborate with state governments to enable widows, victims of conflict and other vulnerable women to acquire shares in the refinery through the IPO.
According to him, women who participate in the programme will receive additional shares donated by the Foundation, alongside the shares they purchase, to help them build long-term financial assets.
«“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 shares to participating women as a form of savings for their future.
“We are looking at reaching about two million women through this initiative,” he said.
The programme is expected to expand access to Nigeria’s capital market by enabling vulnerable women, particularly those in conflict-affected communities, to become shareholders in one of Africa’s largest industrial projects.
The initiative forms part of the broader objectives of the Dangote Refinery’s “People’s IPO,” which is aimed at widening Nigerian participation in ownership of the refinery.
The proposed partnership with state governments is also expected to provide a structured framework for identifying and supporting eligible women, particularly widows and vulnerable households affected by insecurity.
Through the initiative, the Foundation seeks to use equity ownership as a tool for financial inclusion, asset creation and long-term economic empowerment.
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