Dangote Announces Plan to Help 2 Million Nigerian Women Acquire Refinery Shares
- Dangote says his foundation plans to help up to two million vulnerable women across Nigeria buy shares in the Dangote Refinery IPO
- The Aliko Dangote Foundation will identify widows and other vulnerable women and also donate additional shares to beneficiaries
- The initiative aims to promote financial inclusion, asset ownership and long-term wealth creation, especially among women affected by conflict
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Legit.ng journalist Victor Enengedi has over a decade's experience covering energy, MSMEs, technology, banking and the economy.
Aliko Dangote has unveiled a major plan to help up to two million vulnerable women across Nigeria acquire shares in the Dangote Refinery.
The billionaire businessman said his foundation would partner with state governments to identify widows and other vulnerable women and support them to participate in the ongoing Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals Limited.
Source: UGC
Dangote disclosed the plan in New York during the 81st United Nations General Assembly while responding to a question from Yobe State Secretary to the State Government, Dr Goje Mohammed.
Mohammed had asked how public-private partnerships could help communities affected by conflict develop sustainable sources of income and rebuild their economic livelihoods.
Dangote Foundation to help women buy refinery shares
Dangote said the Aliko Dangote Foundation would work with state governments to identify eligible women and help them invest in the refinery's IPO.
According to him, the support would not end with helping beneficiaries purchase shares, as the foundation also plans to donate additional shares to participating women.
“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 explained that the additional shares could be retained by the women as long-term financial assets and 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.
Two million women targeted nationwide
The proposed programme is expected to reach about two million vulnerable women across Nigeria, potentially creating a major avenue for women from disadvantaged communities to gain an ownership stake in one of the country's biggest private-sector investments.
The initiative is linked to the Dangote Refinery's “People's IPO”, which is designed to broaden Nigerian participation in the ownership of the refinery, valued at about $20 billion.
Source: Facebook
The scheme could be particularly relevant to conflict-affected states such as Yobe, where prolonged insecurity has disrupted livelihoods and placed significant economic pressure on vulnerable households.
By helping eligible women acquire shares, the Dangote Foundation and participating state governments hope to promote financial inclusion, asset ownership, and opportunities for long-term wealth creation.
Dangote to expand workforce at refinery
Meanwhile, Legit.ng earlier reported that Dangote Refinery plans to double its workforce.
Edwin Devakumar, Vice President of Oil & Gas and Fertiliser at Dangote Industries Limited, disclosed this to journalists during a visit to the refinery in Lagos on Friday, September 18, 2026.
The planned workforce expansion is tied to Dangote Refinery’s broader ambition to increase its processing capacity from the current 700,000 barrels per day to 1.4 million barrels per day by 2029.
Source: Legit.ng
