The Aliko Dangote Foundation (ADF) has unveiled the Women’s Share Subscription Grant Initiative, a pioneering financial inclusion programme aimed at increasing women’s participation in Nigeria’s capital market through the ongoing Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE (DPRP).
The nationwide initiative is designed to support up to two million Nigerian women, with a special focus on low- and middle-income earners, as well as vulnerable women.
According to the Foundation, the programme seeks to expand access to equity ownership, promote a culture of savings and long-term investing, and empower women with greater opportunities for wealth creation through responsible participation in the capital market.
The initiative is open to several categories of beneficiaries, including independent applicants earning N100,000 or less per month, verified participants in designated ADF programmes such as CRoWN, ADFIN, and Mu Shuka Iri, eligible non-commissioned servicewomen and service spouses, as well as verified service widows.
To accommodate different categories, ADF is providing two pathways: a Matching Grant Track that adds 10 free shares for independent applicants who buy at least 10, and an Unconditional Grant Track that fully funds 20 shares for verified beneficiaries from its programmes and verified service widows who meet KYC requirements.
Under both tracks, grant funds will be applied directly through the designated issuing house. Applicants must be Nigerian women aged 18 years and above, reside in Nigeria, meet the eligibility requirements of their respective participation category, successfully complete all required identity verification and KYC processes, and receive no more than one ADF share grant across all Foundation share grant schemes.
ADF said it is implementing the initiative in partnership with Vetiva Capital Management and the Nigerian Exchange Group (NGX) through the Securities and Exchange Commission (SEC)-approved IPO subscription infrastructure.
ADF urged prospective participants to remain vigilant against fraud, warning that applicants should not make payments to agents, individuals, or personal bank accounts in exchange for grants or promises of guaranteed allotment.
Through this initiative, the Aliko Dangote Foundation said it is reinforcing its commitment to inclusive economic empowerment and enabling more Nigerian women to participate meaningfully in the nation’s wealth creation journey.
