Dangote Foundation Targets Two Million Women with Refinery IPO Shares

President and Chief Executive Officer of Dangote Industries Limited, Aliko Dangote, has disclosed plans by the Aliko Dangote Foundation to support up to two million vulnerable women across Nigeria to participate in the ongoing 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 government and private-sector partnerships could support conflict-affected communities, particularly widows.

He said the Foundation would collaborate with state governments to help vulnerable women, including widows and victims of conflict, acquire shares in the refinery and build long-term financial assets.

According to him, women who participate in the IPO would receive additional support from the Foundation through donated shares.

“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 added that the Foundation would complement the women’s investments by donating additional shares that they could retain as savings for the future.

“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.
Dangote said the initiative was expected to reach about two million women nationwide, making it a major women’s empowerment and financial inclusion programme linked to Nigeria’s capital market.

The proposed scheme forms part of the broader objectives of the Dangote Refinery’s “People’s IPO,” which seeks to expand ownership of the refinery and enable more Nigerians to participate in the growth of the landmark industrial project.

The initiative is expected to be particularly relevant in conflict-affected states such as Yobe, where widows and vulnerable households have faced prolonged economic challenges arising from insecurity.

Through collaboration with state governments, the Foundation plans to create a structured pathway for eligible women to participate in the IPO, with equity ownership serving as a means of building assets and improving long-term financial security.

The programme is also expected to deepen financial inclusion by extending capital-market participation to Nigerians who may otherwise face barriers to accessing investment opportunities.