Dangote to support 2m women with Refinery IPO share ownership – Dangote

President and Chief Executive of Dangote Industries Limited, Aliko Dangote, has announced plans for the Aliko Dangote Foundation to collaborate with state governments to empower vulnerable women across Nigeria through participation in the Dangote Petroleum Refinery and Petrochemicals Limited Initial Public Offering (IPO).

Dangote made the announcement 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.

The discussion focused on how partnerships between government and the private sector can help conflict-affected communities, particularly widows, build sustainable financial futures through investment opportunities.

According to Dangote, the Foundation will work closely with state governments to ensure that women from vulnerable groups, including widows and victims of conflict, can take advantage of the refinery’s share offering and begin building long-term wealth through equity ownership.

The initiative is designed to expand access to Nigeria’s capital market by giving women who might otherwise be excluded the opportunity to become shareholders in one of Africa’s largest industrial enterprises.

Speaking on the programme, Dangote revealed that the Foundation plans to provide additional support to participating women by donating shares to complement their investments.

“We are partnering with state governments to ensure that widows and other vulnerable women are able to buy shares in the refinery,” he said.

He explained that women who purchase shares under the IPO will receive an additional allotment of shares from the Foundation, helping them establish 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,” Dangote noted.

The programme targets up to two million women nationwide, making it one of the largest financial inclusion and women’s empowerment initiatives linked to Nigeria’s capital market.

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

The proposed intervention forms part of the broader objectives of the Dangote Refinery “People’s IPO,” which seeks to democratise ownership of the landmark refinery and enable more Nigerians to share in the value created by one of the country’s most significant private-sector investments.

The initiative is expected to have particular significance for conflict-affected states such as Yobe, where many widows and vulnerable households continue to face economic challenges resulting from years of insecurity.

By facilitating access to investment opportunities, the partnership aims to provide a pathway to sustainable wealth creation and long-term financial security.