Dangote Foundation Plans to Provide Refinery Shares to Nearly 778,000 Nigerian Women

The Aliko Dangote Foundation has announced plans to provide shares in Dangote Petroleum Refinery and Petrochemicals to 777,907 vulnerable women across 15 Nigerian states.

According to a report published by Premium Times on October 19, 2026, the initiative is designed to improve financial inclusion and give women an opportunity to own shares in one of Africa’s largest industrial investments.

The programme, known as the Women Share Subscription Grant Initiative, is intended to help women participate in the capital market, including those who may not previously have invested in shares.

The foundation said participating state governments would contribute financially to the programme, with the foundation matching their contributions. Under the arrangement, eligible beneficiaries would receive shares without paying for them personally.

The participating states are Abia, Anambra, Borno, Ebonyi, Enugu, Gombe, Imo, Kebbi, Kwara, Lagos, Nasarawa, Niger, Plateau, Yobe and Zamfara.

According to the report, each eligible woman is expected to receive 20 shares at an indicative price of ₦525 per share. This would give each beneficiary an allocation valued at ₦10,500.

The state government would finance 10 shares per beneficiary, while the foundation would provide the matching contribution for the remaining 10 shares.

Gombe State has become the first participating state to make full payment towards the initiative, according to the foundation.

The programme forms part of the foundation’s wider goal of empowering two million vulnerable women across Nigeria’s 36 states and the Federal Capital Territory.

If successfully implemented, the initiative could introduce more women to investment and encourage broader participation in Nigeria’s capital market.

However, the programme’s benefits will depend on its implementation and the terms governing the shares allocated to beneficiaries.

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