WorldStage— Up to two million low-income and vulnerable Nigerian women are set to become shareholders in the Dangote Petroleum Refinery and Petrochemicals FZE as the Aliko Dangote Foundation has opened a new wealth-creation and financial inclusion pathway through the company’s ongoing Initial Public Offering.
The initiative, tagged Women’s Share Subscription Grant Initiative, is designed to deepen women’s participation in Nigeria’s capital market, promote long-term savings culture and expand equity ownership among low and middle-income earners who have traditionally been excluded from the stock market.
Under the scheme, the Foundation will fund share subscriptions for eligible women across the country, with shares credited directly in their names through the Securities and Exchange Commission-approved IPO infrastructure. No cash will be paid to beneficiaries or third parties.
The programme has two entry pathways. Independent applicants earning N100,000 or less monthly who subscribe to a minimum of 10 shares will receive a matching grant of an additional 10 shares funded by the Foundation. For vulnerable categories, including verified participants in ADF programmes such as CRoWN, ADFIN and Mu Shuka Iri, eligible non-commissioned servicewomen, service spouses and verified service widows, the Foundation will fund 20 shares unconditionally after Know Your Customer and identity verification.
According to the Foundation, the grant is aimed at moving women from subsistence support to asset ownership, enabling them to benefit from dividend income and capital appreciation while strengthening domestic retail participation in the capital market.
The initiative is being implemented in partnership with Vetiva Capital Management and the Nigerian Exchange Group through the SEC-approved IPO subscription platform. ADF said it will not receive, collect or hold any subscription funds. All applications, payments, allotments and refunds will be handled strictly in line with the IPO prospectus and regulatory requirements.
To remove barriers to entry, applicants are not required to have an existing Central Securities Clearing System account. Where necessary, CSCS accounts will be created through Vetiva upon completion of KYC.
Eligibility is limited to Nigerian women aged 18 and above residing in Nigeria, who meet category requirements and complete verification processes. Each applicant can receive only one grant across all Foundation share schemes.
Eligible independent applicants are to apply exclusively through the official portal at http://ipo.alikodangotefoundation.org, while beneficiaries affiliated with ADF programmes and verified widows will be guided through approved Foundation channels. The offer closes on October 13, 2026.
The Foundation cautioned applicants against fraud, warning them not to make payments to agents or personal bank accounts and not to share passwords, PINs or OTPs. It stressed that participation is voluntary, share prices may fluctuate, dividends are payable only when declared, and neither allotment nor returns are guaranteed.
The scheme, the Foundation said, reinforces its commitment to inclusive economic empowerment by broadening access to investment opportunities and enabling more women to participate meaningfully in Nigeria’s wealth creation journey.
