Dangote Foundation teams up with 15 states to give 778,000 women refinery shares

The Aliko Dangote Foundation is partnering with 15 Nigerian state governments to give nearly 778,000 vulnerable women shares in Dangote Petroleum Refinery and Petrochemicals at no cost to them.

Each participating state will fund 10 shares per beneficiary, while the foundation will fund another 10, Business Insider Africa reports. The scheme covers 777,907 women, representing about 15.56 million shares.

Citing Premium Times, the report said the foundation’s managing director and chief executive, Zouera Youssofou, announced the plan in a statement on Sunday. At the indicative price of ₦525 per share, each woman’s 20 shares would be worth ₦10,500, bringing the total to about ₦8.17 billion.

The states are Abia, Anambra, Borno, Ebonyi, Enugu, Gombe, Imo, Kebbi, Kwara, Lagos, Nasarawa, Niger, Plateau, Yobe and Zamfara. Gombe was the first to make its full payment.

The programme aims to reach two million women nationwide. Share ownership does not guarantee regular income or rising value.