2 Million Women Set To Benefit As Dangote Announces Major Refinery Share Initiative

Businessman Aliko Dangote has announced plans to support about two million vulnerable women with shares in Dangote Petroleum Refinery and Petrochemicals Limited through an initiative involving the Dangote Foundation and state governments.

According to Bush Radio Academy, Dangote disclosed the plan in New York during the 81st United Nations General Assembly while responding to questions about how public-private partnerships could support communities affected by conflict, particularly widows.

Under the proposed initiative, the Dangote Foundation is expected to collaborate with state governments to help eligible women participate in the planned initial public offering of shares in the refinery.

Dangote said the programme would go beyond helping vulnerable women purchase shares, explaining that some beneficiaries would also receive additional shares from the foundation as a form of long-term savings.

“We are partnering with state governments to ensure that widows and other vulnerable women are able to buy shares in the refinery,” Dangote said.

The businessman added that the foundation would provide additional support by donating shares that beneficiaries could retain as an asset 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 said.

According to Dangote, the initiative is expected to target approximately two million women, particularly widows and others facing economic hardship or the effects of conflict.

The proposed programme is linked to the broader Dangote Refinery “People’s IPO”, an initiative aimed at expanding Nigerian participation in the ownership of the 700,000-barrel-per-day refinery through the sale of shares.

The proposed arrangement would see state governments and the Dangote Foundation facilitate the participation of eligible women in the share offering, while donated shares would provide selected beneficiaries with an additional financial asset.

“We are looking at reaching about two million women through this initiative,” Dangote said.

The plan is expected to place vulnerable women among the groups being considered for participation in the refinery’s planned share offering, although details on eligibility, allocation and the implementation process were not provided in the announcement.