Yobe State Government Approves N230.62 Million For Purchase Of Shares Of Dangote Refinery; 10 Shares Each For 43,928 Vulnerable Women

The Yobe State Governor, Mai Mala Buni, has approved ₦230.62 million for the purchase of shares for 43,928 vulnerable women across the state’s 17 Local Government Areas as part of efforts to strengthen economic empowerment and support the recovery programme of his administration.

A statement by the Director-General of Press and Media Affairs to the Governor, Mamman Mohammed, disclosed that the approval followed high-level engagements initiated by the state government at the 81st United Nations General Assembly in New York, United States.

The state government, represented by the Secretary to the State Government, Dr. Mohammed Goje, explored opportunities for private-sector partnerships to support vulnerable women and households affected by conflict in Yobe State.

During the engagements, Goje sought a partnership with the Aliko Dangote Foundation to enable 43,928 vulnerable women to become shareholders in Dangote Petroleum Refinery and Petrochemicals.

Under the proposed arrangement, the Yobe State Government will sponsor 10 shares for each beneficiary at a total cost of ₦230.62 million, while the Aliko Dangote Foundation will provide an equivalent matching grant. This will bring the total investment to approximately ₦461.24 million, subject to the applicable initial public offering conditions and successful allotment.

Each beneficiary is expected to own 20 shares in her name, with the shares credited to her individual Central Securities Clearing System account to promote personal asset ownership and long-term financial independence.

The initiative prioritises women from internally displaced households, widows with multiple dependants, women living with disabilities, and those experiencing extreme poverty.

The programme represents an approach to women’s economic empowerment that extends beyond conventional financial assistance to include investment opportunities, financial inclusion and long-term asset ownership.

The development also highlights the role of international engagements and private-sector partnerships in creating investment opportunities and supporting vulnerable communities across Yobe State.