President and Chief Executive Officer of Dangote Industries Limited, Aliko Dangote, has announced plans by the Aliko Dangote Foundation to partner with state governments across Nigeria to empower vulnerable women through participation in the Dangote Petroleum Refinery and Petrochemicals Limited Initial Public Offering (IPO).
Dangote disclosed this 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 support conflict-affected communities, particularly widows, in building sustainable financial futures.
According to Dangote, the Foundation will collaborate with state governments to enable women from vulnerable groups, including widows and victims of conflict, to participate in the refinery’s share offering and build long-term wealth through equity ownership.
He said the initiative is aimed at widening access to Nigeria’s capital market by creating an opportunity for women who may otherwise be excluded from investment opportunities to become shareholders in one of Africa’s largest industrial enterprises.
Dangote further disclosed that the Foundation would 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 through the IPO would receive additional shares from the Foundation, which they could retain 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,” Dangote added.
The initiative is targeting up to two million women nationwide, potentially making it one of the largest women-focused financial inclusion initiatives connected to Nigeria’s capital market.
“We are looking at reaching about two million women through this initiative,” Dangote said.
The proposed intervention forms part of the broader objectives of the Dangote Refinery “People’s IPO,” which seeks to broaden Nigerian participation in the ownership of the landmark refinery and enable more citizens to share in the value created by one of the country’s major private-sector investments.
The initiative could be particularly significant for conflict-affected states such as Yobe, where widows and vulnerable households continue to face economic challenges arising from prolonged insecurity.
By facilitating access to investment opportunities, the partnership is intended to provide participating women with a pathway towards asset ownership, wealth creation and greater long-term financial security.
Dangote stressed that collaboration between the Foundation and state governments would provide a structured framework for supporting vulnerable women to participate in the IPO, while promoting investment and equity ownership as tools for economic empowerment and financial inclusion.
Through the initiative, the ownership opportunity associated with the Dangote Refinery IPO is expected to reach some of Nigeria’s most vulnerable women, enabling them to build assets and participate directly in the growth of a major Nigerian industrial enterprise.