The Aliko Dangote Foundation has introduced a new investment support programme designed to help as many as two million Nigerian women gain access to equity ownership through the ongoing initial public offering of Dangote Petroleum Refinery and Petrochemicals FZE.
The Women’s Share Subscription Grant Initiative is aimed at promoting financial inclusion by giving vulnerable and low- and middle-income women an opportunity to participate in the capital market while encouraging savings and long-term investment.
The Foundation said the programme has two grant options for qualified beneficiaries.
Under the Matching Grant Track, eligible independent applicants earning N100,000 or less per month who subscribe for at least 10 shares will receive funding from the Foundation for an additional 10 shares in their names.
The second option, known as the Unconditional Grant Track, provides eligible beneficiaries with funding for 20 shares, subject to meeting the programme’s identification and Know Your Customer requirements.
The unconditional option is open to verified participants in selected ADF initiatives, including CRoWN, ADFIN and Mu Shuka Iri, as well as verified service widows.
Eligible non-commissioned servicewomen and service spouses can also participate, subject to the applicable conditions.
ADF said all grant funding will be channelled directly through the designated issuing house, stressing that beneficiaries will not receive cash payments.
Any shares allocated under the initiative will be registered and held in the name of the beneficiary.
To participate, applicants must be Nigerian women aged at least 18, reside in the country and satisfy the requirements applicable to their category. They must also successfully complete the necessary identity verification and KYC procedures.
The Foundation said an individual can receive only one ADF share grant across its various share-grant schemes.
The initiative is being implemented in partnership with Vetiva Capital Management and the Nigerian Exchange Group through infrastructure approved by the Securities and Exchange Commission for the IPO.
ADF said it would neither collect nor hold subscription funds belonging to applicants or sponsors. It added that applications, payments, allotments and refunds would be handled according to the IPO prospectus, applicable regulations and the approved basis of allotment.
The Foundation stressed that participation is voluntary and warned prospective investors that equities carry investment risks. It noted that share prices may rise or fall, dividends are not guaranteed and are payable only when declared, while neither share allotment nor investment returns can be assured.
Applicants are not required to have an existing Central Securities Clearing System account. Where necessary, an account will be opened through Vetiva after the applicant completes the required IPO verification process.
Independent applicants are required to apply through the official ADF portal, while beneficiaries of Foundation programmes and verified service widows will receive application guidance through authorised ADF channels.
The subscription offer is scheduled to close on October 13, 2026.
ADF also issued a fraud alert, advising prospective beneficiaries against making payments to agents, individuals or personal bank accounts in exchange for grants or guaranteed share allocations.
Applicants were further advised to keep passwords, PINs and one-time passwords confidential and to independently verify suspicious payment requests and online links through the Foundation’s official communication channels.
