Dangote Foundation Targets 2 Million Women in Refinery IPO Share Ownership Drive

 Dangote Foundation Targets 2 Million Women in Refinery IPO Share Ownership Drive

The Aliko Dangote Foundation plans to partner with state governments to support up to two million vulnerable women across Nigeria to acquire shares in the Dangote Petroleum Refinery and Petrochemicals Limited through its proposed Initial Public Offering (IPO), Aliko Dangote has disclosed.

President and Chief Executive Officer of Dangote Industries Limited, Aliko Dangote, disclosed this during an engagement in New York on the sidelines of the 81st United Nations General Assembly.

Dangote was responding to a question from the Secretary to the Yobe State Government, Dr. Goje Mohammed, on how public-private partnerships could support conflict-affected communities, particularly widows and other vulnerable women, in building sustainable sources of income and long-term financial security.

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

According to him, the initiative is intended to broaden access to Nigeria's capital market by enabling women who may ordinarily be excluded from investment opportunities to become shareholders in one of Africa's largest industrial projects.

"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 to participating women by donating shares to complement the shares they purchase through the IPO.

"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 initiative is expected to reach approximately two million women nationwide, potentially making it one of the largest women-focused financial inclusion programmes linked to Nigeria's capital market.

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

The proposed programme forms part of the broader objectives of the Dangote Refinery's "People's IPO", which is aimed at widening public participation in the ownership of the refinery and allowing more Nigerians to acquire an equity stake in the landmark industrial project.

The initiative could be particularly significant in conflict-affected communities, including parts of the North-East, where widows and vulnerable households have faced prolonged economic hardship as a result of insecurity and displacement.

By facilitating access to equity ownership, the Foundation's proposed intervention seeks to provide beneficiaries with assets that could appreciate over time and potentially generate long-term financial value.

The partnership with state governments is also expected to provide a structured mechanism for identifying and supporting eligible beneficiaries, while strengthening efforts to promote women's economic empowerment and financial inclusion.

If implemented as announced, the initiative would extend the refinery's proposed ownership opportunity to millions of women who might otherwise have limited access to formal investment opportunities, giving them a pathway to participate in the country's capital market and build long-term financial assets.