President and Chief Executive of Dangote Industries Limited, Aliko Dangote Foundation to collaborate with state governments to empower 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 Secretary to the Yobe State Government, Dr. Goje Mohammed. The discussion focused on how partnership between government and private sector can help conflict – affected communities, particularly widows build sustainable financial futures through investment in opportunities.
According to Dangote, the Foundation will work closely with the state governments to ensure that 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 share holders 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 purchased shares under the IPO will receive additional allotment of shares that they can hold as savings for future, ” he noted.
The programme target 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 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 a particular significant for conflict – affected States such as Yobe, where 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 pathway to Sustainable wealth creation and long – term financial security.
Dangote emphasized that collaboration between the Foundation and state governments will create a structured framework of supporting vulnerable women to participate in the IPO, reinforcing the role of investment and equity ownership as tool of economic empowerment, financial inclusion and social development.
Through this initiative, the ownership opportunity presented by Dangote Refinery IPO will be extended to some of Nigeria’s most vulnerable women, helping them build assets, secure their futures and participate directly in the growth of a landmark national enterprise.
