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Dangote Refinery IPO to Empower Two Million Vulnerable Women
President and Chief Executive of Dangote Industries Limited, Aliko Dangote, has announced plans to support up to two million vulnerable women across Nigeria to acquire shares in the ongoing Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals Limited.
Dangote disclosed the initiative 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 how public-private partnerships could help conflict-affected communities build sustainable sources of income.
Under the proposed programme, the Aliko Dangote Foundation will collaborate with state governments to identify and support vulnerable women, particularly widows and women affected by conflict, to participate in the refinery’s share offering.
Dangote said the initiative would not only facilitate access to the IPO but would also provide participating women with additional shares donated by the Foundation.
“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 women who invest in the IPO would receive additional shares from the Foundation, which could be held as a long-term financial asset.
“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 programme is expected to target about two million women nationwide, potentially making it one of the largest women-focused financial inclusion initiatives associated with a Nigerian capital-market offering.
The proposed intervention is linked to the broader objectives of the Dangote Refinery “People’s IPO”, which is designed to widen Nigerian participation in the ownership of the $20 billion refinery, a statement from Dangote said.
The initiative could have particular relevance in conflict-affected states such as Yobe, where widows and vulnerable households have faced prolonged economic challenges arising from insecurity.
By helping eligible women acquire equity in the refinery, the Foundation and participating state governments aim to promote asset ownership, financial inclusion and long-term wealth creation.
