Premium Times reported that 777,907 women in 15 Nigerian states would receive refinery shares without paying for them, with state governments and the Aliko Dangote Foundation each covering half of the allocation.
The report attributed the plan to a statement from Zouera Youssofou, the foundation’s managing director and chief executive. Under the arrangement, each beneficiary would receive 20 shares: 10 funded by the participating state government and 10 by the foundation. The grant totals about 15.56 million shares. At the offer price of 525 naira per share, the allocation has an indicative value of 10,500 naira per woman.
Gombe has completed its contribution, making it the first state to do so, the foundation said, according to Premium Times. The other participating states are Abia, Anambra, Borno, Ebonyi, Enugu, Imo, Kebbi, Kwara, Lagos, Nasarawa, Niger, Plateau, Yobe and Zamfara.
The foundation described the initiative as a way to promote financial inclusion and women’s equity ownership. It forms part of a wider goal to reach 2 million vulnerable women across Nigeria’s 36 states and the Federal Capital Territory. The plan places half of each grant’s cost with the state government and half with the foundation, while recipients would receive the shares without an out-of-pocket payment.
Dangote Petroleum Refinery and Petrochemicals FZE is offering 4.1 billion shares at 525 naira apiece, according to its official IPO extension notice. The issuer set Oct. 27 as the application closing date. Its indicative timetable lists Nov. 3 for the collation of returns, the next scheduled step after applications close.
