The Aliko Dangote Foundation has launched a share subscription grant initiative targeting up to two million Nigerian women, particularly low- and middle-income earners and vulnerable women, through the ongoing initial public offering of Dangote Petroleum Refinery and Petrochemicals FZE.
The nationwide programme, unveiled by the foundation, is designed to expand women’s access to Nigeria’s capital market by providing free shares to eligible beneficiaries through two grant schemes.
Under the initiative, eligible women can receive either 10 additional free shares after purchasing at least 10 shares or 20 fully funded shares, depending on their category.
The foundation said the programme was aimed at promoting financial inclusion, encouraging long-term investment and creating opportunities for women to build wealth through equity ownership.
The initiative is open to Nigerian women aged 18 and above who reside in the country and meet the eligibility and identity verification requirements.
Independent applicants earning N100,000 or less monthly can qualify for the matching grant, while verified beneficiaries of designated foundation programmes and eligible service widows can access the unconditional grant, subject to the stipulated requirements.
The foundation listed its designated programmes as CRoWN, ADFIN and Mu Shuka Iri. Eligible non-commissioned servicewomen and service spouses are also among the categories covered by the initiative.
Under the matching grant scheme, applicants must purchase at least 10 shares to qualify for an additional 10 free shares.
The unconditional grant scheme, however, provides 20 fully funded shares to eligible beneficiaries who satisfy the verification requirements.
The foundation said it was implementing the initiative in partnership with Vetiva Capital Management and the Nigerian Exchange Group through the Securities and Exchange Commission-approved IPO subscription infrastructure.
It added that grant funds would be applied directly through the designated issuing house.
The foundation also warned prospective beneficiaries against fraud, urging them not to pay agents, individuals or personal bank accounts in exchange for grants or promises of guaranteed share allotment.
It said applicants must complete the required Know Your Customer verification and would not be entitled to more than one foundation share grant across its grant schemes.
The foundation said the programme reflected its commitment to inclusive economic empowerment and expanding women’s participation in Nigeria’s wealth creation process.
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