The Aliko Dangote Foundation has commenced the implementation of its share subscription grant initiative for Nigerian women, extending the programme to eligible policewomen and military women. This initiative is part of the ongoing Initial Public Offering of Dangote Petroleum Refinery and Petrochemicals FZE. The programme aims to increase women's participation in Nigeria's capital market, particularly among low- and middle-income earners and vulnerable women.
Under the programme, eligible women can access grants to acquire shares in the Dangote refinery, promoting equity ownership, savings, and long-term investment. The initiative covers up to two million Nigerian women and includes independent applicants earning N100,000 or less per month, verified participants in designated ADF programmes, eligible non-commissioned servicewomen and service spouses, as well as verified service widows.
An official of the Dangote Group confirmed that eligible non-commissioned servicewomen include policewomen and military women. The foundation provides two grant tracks: a matching grant track and an unconditional grant track. Eligible independent applicants who subscribe to a minimum of 10 shares will receive an ADF-funded application for an additional 10 shares in their names under the matching grant track.
The foundation will fund applications for 20 shares on behalf of eligible beneficiaries who meet the programme's eligibility, investor identification, and Know Your Customer requirements under the unconditional grant track. Beneficiaries include verified participants from designated ADF programmes and verified service widows. Grant funds will be applied directly through the designated issuing house, with no cash paid to beneficiaries, government agencies, or sponsors.
To participate, applicants must be Nigerian women aged 18 years and above, reside in Nigeria, meet the eligibility requirements of their respective categories, and successfully complete the required identity verification and KYC processes. Beneficiaries will receive no more than one ADF share grant across all its share grant schemes. The initiative is being implemented in partnership with Vetiva Capital Management and the Nigerian Exchange Group.
The Aliko Dangote Foundation has warned prospective participants to remain vigilant against fraud, advising applicants against making payments to agents, individuals, or personal bank accounts in exchange for grants or guaranteed allotment. Applicants are also advised not to share passwords, PINs, or one-time passwords and to verify unexpected payment requests or online links through official channels before taking action.
The initiative is part of the Aliko Dangote Foundation's commitment to inclusive economic empowerment and broadening access to investment opportunities for Nigerian women. The offer closes on October 13, and the foundation has urged applicants to submit their applications exclusively through its official portal.
Key points
- Eligible policewomen and military women can access grants to acquire shares in the Dangote refinery.
- The programme aims to increase women's participation in Nigeria's capital market.
- The initiative targets up to two million Nigerian women.
