Dangote Foundation and Gombe State distribute refinery shares to women
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The Gombe State government in Nigeria and the Aliko Dangote Foundation are giving 28,284 vulnerable women shares in the Dangote Petroleum Refinery.
The state released ₦149.2 million to purchase shares for these women, with each receiving 20 shares through the partnership. The government will buy 10 shares per woman and the Aliko Dangote Foundation will contribute another 10 at no cost, valuing each allocation at ₦10,500.
This initiative is part of Aliko Dangote’s larger plan to support up to two million vulnerable Nigerian women by enabling them to become shareholders in one of the country’s largest industrial projects. A committee from several state ministries will oversee the share distribution across Gombe's 11 local government areas, targeting widows, conflict-affected women, and those experiencing economic hardship.
The Aliko Dangote Foundation has committed funds to match share purchases by vulnerable women and students participating in the refinery’s initial public offering. The refinery itself reportedly generated $4.7 billion in profit during the first nine months of 2026, and this share distribution aims to shift financial support toward asset ownership, giving these women a lasting stake in the Nigerian economy. The offer for shares was originally scheduled to close in October 2026, but has been extended.
