From Muhammad Maitela, Damaturu
Yobe State Governor, Mai Mala Buni, has approved the purchase of ₦230.62 million worth of shares of Dangote Petroleum Refinery and Petrochemicals for 43,928 vulnerable women across the state’s 17 local government areas.
The initiative, according to a statement signed by Mamman Mohammed, Director-General of Press and Media Affairs to the Governor, is aimed at promoting financial inclusion, economic empowerment and long-term asset ownership among women, particularly those affected by insurgency and poverty.
The approval followed engagements initiated by the state government during the 81st United Nations General Assembly (UNGA) in New York, United States.
The Secretary to the State Government, Dr Mohammed Goje, who represented the state at the engagements, sought a partnership with the Aliko Dangote Foundation to enable the women to become shareholders in the refinery.
Under the proposed arrangement, the Yobe State Government will sponsor the purchase of 10 shares for each of the 43,928 beneficiaries at a total cost of ₦230.62 million, while the Aliko Dangote Foundation will provide an equivalent matching grant.
This will bring the total investment to approximately ₦461.24 million, subject to applicable initial public offering (IPO) conditions and successful share allotment.
Each beneficiary is expected to receive 20 shares registered in her name, with the shares credited to her individual Central Securities Clearing System (CSCS) account.
The programme will prioritise women from internally displaced households, widows with multiple dependants, women with disabilities and those living in extreme poverty.
Speaking on the initiative, Goje said the development demonstrated how international engagements could be translated into practical investment opportunities for vulnerable people in the state.
He explained that what began as a high-level discussion during UNGA 2026 had progressed into a formal partnership proposal with the potential to benefit thousands of women across Yobe.
According to him, the initiative aligns with Governor Buni’s development agenda of promoting inclusive growth, strengthening household economic resilience and creating opportunities for communities recovering from the effects of insurgency.
Goje added that the programme represented a shift from conventional financial assistance towards a model that would enable vulnerable women to participate in investment and build personal financial assets.
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