Uche Amunike
The Aliko Dangote Foundation has unveiled plans to support about two million vulnerable women in acquiring Dangote shares in the proposed initial public offering (IPO) of Dangote Petroleum Refinery and Petrochemicals Limited.
This initiative was disclosed by the President and Chief Executive Officer of Dangote Industries Limited, Aliko Dangote, in New York during the 81st United Nations General Assembly, as he responded to a question from the Secretary to the Yobe State Government, Dr Goje Mohammed, on how public-private partnerships could improve the economic prospects of communities affected by conflict.
Dangote explained that the foundation would collaborate with state governments to help widows, conflict victims and other economically vulnerable women participate in the planned refinery IPO.
According to him, the initiative is designed to give women who may otherwise struggle to access investment opportunities a chance to become shareholders in one of Nigeria’s major industrial projects.
His words: ‘We are partnering with state governments to ensure that widows and other vulnerable women are able to buy shares in the refinery’.
He further disclosed that the foundation would provide additional support to women who invest in the IPO by donating more shares to them.
The additional Dangote shares, he explained, would serve as a long-term financial asset that beneficiaries could preserve as savings for the future. The arrangement is expected to help participating women build personal wealth through equity ownership rather than relying solely on immediate financial assistance.
‘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..
According to him, the foundation was targeting approximately two million women under the proposed programme, with particular attention to those living in vulnerable circumstances.
The initiative is linked to the broader ‘People’s IPO’ plan for the Dangote Refinery, which is expected to widen public participation in the ownership of the massive petroleum facility.
The refinery, with a stated capacity of 700,000 barrels per day, is located in the Lekki area of Lagos and has become one of Nigeria’s most significant private-sector investments in the energy industry.
Through the proposed IPO, the company intends to provide Nigerians with an opportunity to acquire an ownership stake in the refinery. The foundation’s intervention would extend that opportunity to women who might face financial barriers to participating in the offering.
The proposed partnership with state governments is expected to concentrate on conflict-affected communities, where widows, displaced families and other vulnerable households often face difficulties rebuilding their livelihoods.
Under the arrangement, state authorities and the Aliko Dangote Foundation would identify and facilitate eligible beneficiaries, enabling them to participate in the share offer.
The foundation’s additional contribution would then give participating women another layer of financial security through equity holdings.
The initiative therefore combines access to investment with social support, with the stated objective of helping vulnerable women develop assets that could provide financial value over the longer term.
Further details on eligibility, the structure of the IPO and the process for beneficiaries to acquire the shares are expected to emerge as preparations for the public offering progress.
