The Aliko Dangote Foundation (ADF) has begun implementing its share subscription grant programme for Nigerian women, with eligible female personnel serving in the police and military included among the beneficiaries.
The initiative is part of the foundation’s plan to expand women’s access to Nigeria’s capital market by supporting the acquisition of shares in Dangote Petroleum Refinery and Petrochemicals FZE under its ongoing Initial Public Offering.
The programme is expected to benefit as many as two million Nigerian women, with particular attention given to low- and middle-income earners, vulnerable women and participants in selected empowerment programmes.
According to the foundation, eligible beneficiaries include Nigerian women earning N100,000 or less monthly, verified participants in programmes such as CRoWN, ADFIN and Mu Shuka Iri, eligible non-commissioned servicewomen, service spouses and verified service widows.
The foundation explained that the category covering non-commissioned servicewomen includes eligible women serving in the police and military.
The scheme operates through two major grant arrangements. Under the matching grant option, eligible independent applicants who purchase at least 10 shares will have the foundation fund an additional 10 shares in their names.
For beneficiaries covered under the unconditional grant arrangement, the foundation will finance the purchase of 20 shares, provided the applicants satisfy the required eligibility, identification and Know Your Customer conditions.
The foundation emphasised that beneficiaries will not receive the grant money in cash. Instead, funds will be channelled directly through the designated issuing house for the share subscription.
Any shares allocated through the programme will be registered in the name of the beneficiary and will belong solely to her.
Applicants must be Nigerian women aged 18 or above, living in Nigeria and able to complete the required identity verification and KYC procedures. The foundation also stated that an individual can benefit from only one ADF share grant scheme.
The programme is being implemented in collaboration with Vetiva Capital Management and the Nigerian Exchange Group through the infrastructure approved by the Securities and Exchange Commission for the IPO.
Applicants are not required to already have a Central Securities Clearing System account. Where necessary, an account will be created through Vetiva once the applicant completes the required KYC process.
Independent applicants are expected to apply through the foundation’s designated online platform, while verified beneficiaries of ADF programmes and service widows will receive information on how to participate through authorised Foundation channels.
With the share offer scheduled to close on October 13, the foundation has cautioned prospective beneficiaries to be alert to fraudulent schemes.
It warned against paying money to agents, individuals or personal bank accounts in return for access to the grant or promises of guaranteed share allocations.
Applicants were also advised to protect their passwords, PINs and one-time passwords and to confirm suspicious links or payment requests through official channels.
The foundation said the initiative is intended to promote broader participation by Nigerian women in investment and provide them with an opportunity to build long-term wealth through equity ownership.
