Aliko Dangote says his foundation will help 2 million vulnerable women buy Dangote refinery shares and receive additional shares as savings
Aliko Dangote has announced plans to help about two million vulnerable Nigerian women own shares in Dangote Petroleum Refinery and Petrochemicals Limited. The initiative will target widows, conflict victims and other women facing financial hardship.
Dangote made the announcement in New York during the 81st United Nations General Assembly. He spoke after a question from Yobe State Secretary, Dr Goje Mohammed, on helping conflict-affected communities build stronger financial futures.
Through the Aliko Dangote Foundation, the billionaire plans to work with state governments to help eligible women participate in the refinery’s planned initial public offering (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.
The partnership will focus on women who may struggle to invest without additional support.
Importantly, the foundation plans to give beneficiaries extra shares after they invest in the IPO. Dangote said the donated shares could serve as long-term savings for the women.
“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.
“We are looking at reaching about two million women through this initiative,” he added.
The programme forms part of the Dangote Refinery “People’s IPO”. The plan aims to increase Nigerian ownership of the 700,000-barrel-per-day refinery. Under the proposed arrangement, state governments and the foundation will help eligible women access the IPO.
The additional shares could also give beneficiaries a financial asset for the future. For women in conflict-affected communities, the initiative could create a new route to long-term financial participation.
