Dangote Foundation Targets Women Earning N100,000 or Less in IPO Share Grant Scheme

In a targeted push to broaden women’s participation in Nigeria’s capital market, the Aliko Dangote Foundation (ADF) has launched a share grant scheme that prioritises women earning N100,000 or less per month as part of the ongoing Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE.

The subscription grant initiative, designed to reach up to two million Nigerian women, offers a Matching Grant Track under which eligible low-income earners who purchase 10 shares receive an additional 10 shares free, while an Unconditional Grant Track fully funds 20 shares for verified beneficiaries of ADF’s CRoWN/ADFIN programmes, service spouses and widows who meet KYC requirements.

ADF said grant funds will be applied directly through the designated issuing house, with no cash payments to beneficiaries, government agencies or sponsors, and that applicants must be Nigerian women aged 18 and above, resident in Nigeria, meet category-specific requirements, complete identity verification, and not receive more than one ADF share grant across all foundation schemes.

The initiative is being implemented in partnership with Vetiva Capital Management and the Nigerian Exchange Group (NGX) through the SEC-approved IPO subscription infrastructure.

The nationwide initiative is designed to support up to two million Nigerian women, with special focus on low- and middle-income earners and vulnerable women, by expanding access to equity ownership and promoting a culture of savings and long-term investing.

The programme offers a Matching Grant Track where women earning N100,000 or less get 10 free shares when they buy 10, and an Unconditional Grant Track where ADF fully funds 20 shares for verified beneficiaries of its CRoWN/ADFIN programmes, service spouses and widows who meet KYC requirements.

Under both tracks, grant funds will be applied directly through the designated issuing house. No cash payments will be made to beneficiaries, government agencies, or sponsors.

The Foundation stated that to qualify, applicants must be Nigerian women aged 18 years and above, reside in Nigeria, meet the requirements of their participation category, complete all 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 SEC-approved IPO subscription infrastructure.