Aliko Dangote, the chief executive of Dangote Industries Limited, announced that the company will help up to two million vulnerable women in Nigeria acquire shares in its planned Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals Limited. The announcement was made in New York during the 81st United Nations General Assembly, when Dangote responded to a question from Yobe State Government Secretary Dr. Goje Mohammed about how public‑private partnerships could support widows and victims of conflict.
Dangote said the Aliko Dangote Foundation will work with state governments to enable women to participate in the refinery’s share offering. The Foundation will not only help them purchase shares but will also donate additional shares that beneficiaries can keep as long‑term assets.
“We are partnering with state governments to ensure that widows and other vulnerable women are able to buy shares in the refinery,” Dangote said. “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.”
The programme is part of the broader “People’s IPO” initiative, which aims to widen access to ownership of the $20 billion refinery. It is expected to reach about two million women nationwide, including those in conflict‑affected communities who have suffered economic hardship.
By providing a structured system for identifying eligible women and facilitating their participation, the partnership seeks to promote financial inclusion and give beneficiaries the chance to build savings and potentially benefit from future returns on their investment. The refinery IPO, therefore, serves both as a capital‑raising exercise and a wider effort to spread ownership of the landmark industrial project among Nigerians.
<small>Source: The Sun Nigeria — read the original story there.</small>
