Yobe Gov Approves N230m Dangote Refinery Shares For 43,928 Women

Yobe State governor, Mai Mala Buni, has approved N230.62 million for the purchase of Dangote Petroleum Refinery and Petrochemicals shares for 43,928 vulnerable women across the state’s 17 local government areas.

The initiative is designed to promote financial inclusion, asset ownership and economic empowerment among women affected by poverty, displacement and insurgency.

The approval followed engagements between the Yobe State government and the Aliko Dangote Foundation during the 81st United Nations General Assembly (UNGA) in New York, where the state sought private-sector support for vulnerable women and conflict-affected households.

The Secretary to the State Government (SSG), Dr Mohammed Goje, who represented the state at the engagements, initiated discussions with the foundation on a partnership that would enable the women to become shareholders in the refinery.

Under the proposed arrangement, the state government will fund subscriptions for 10 shares each for the 43,928 beneficiaries at a total cost of N230.62 million, while the Aliko Dangote Foundation is expected to provide an equivalent matching grant.

This would bring the total investment to approximately N461.24 million, with each beneficiary entitled to 20 shares, subject to applicable initial public offering (IPO) conditions and successful allotment.

The shares are expected to be registered in the individual names of the beneficiaries, with holdings credited to their respective Central Securities Clearing System (CSCS) accounts.

The programme will prioritise women from internally displaced households, widows with multiple dependants, women with disabilities and those living in extreme poverty.

Goje said the initiative reflected the state government’s commitment to exploring strategic partnerships that could deliver sustainable economic opportunities to vulnerable residents.

He added that the proposed investment marked a shift from conventional financial assistance towards enabling women to own financial assets and strengthen their long-term economic resilience.

The initiative forms part of the Buni administration’s broader efforts to promote inclusive growth and support communities recovering from the effects of insurgency.