The Aliko Dangote Foundation says 777,907 women in 15 states are set to receive shares in Dangote Petroleum Refinery and Petrochemicals under a grant programme funded jointly with participating state governments.
The proposed allocation covers 15.56 million shares. Each beneficiary is eligible for 20 shares at an indicative price of N525 each, giving an allocation valued at N10,500.
Under the arrangement, the state government would pay for 10 shares per woman and the foundation would match that contribution with another 10. Beneficiaries would not pay for the shares.
Foundation chief executive Zouera Youssofou outlined the Women Share Subscription Grant Initiative in a statement issued on Sunday, Premium Times reported.
The participating states are Abia, Anambra, Borno, Ebonyi, Enugu, Gombe, Imo, Kebbi, Kwara, Lagos, Nasarawa, Niger, Plateau, Yobe and Zamfara.
The foundation said Gombe was the first participating state to make full payment towards the programme.
The initiative is part of a wider target to reach two million vulnerable women across the 36 states and the FCT. The refinery’s ongoing public offer has also drawn subscriptions from investors across Africa and beyond, as NaijaTrend reported here.
The foundation is running a separate tertiary-student initiative to support applications for 10 shares for each eligible participating student at no cost to the student.
Sources: Premium Times
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