By Ayomide Otitoju
The Aliko Dangote Foundation (ADF) has launched the Women’s Share Subscription Grant Initiative to increase women’s participation in Nigeria’s capital market through the ongoing Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE (DPRP).
The nationwide programme is targeted at up to two million Nigerian women, particularly low- and middle-income earners and vulnerable women.
According to the Foundation, the initiative is designed to expand access to equity ownership, promote savings and long-term investment, and create opportunities for women to build wealth through participation in the capital market.
Eligible beneficiaries include independent applicants earning ₦100,000 or less monthly, verified participants in designated ADF programmes such as CRoWN, ADFIN and Mu Shuka Iri, eligible non-commissioned servicewomen and service spouses, and verified service widows.
The initiative provides two participation options: the Matching Grant Track and the Unconditional Grant Track.
Under the Matching Grant Track, eligible independent applicants who subscribe for at least 10 shares will receive an ADF-funded application for an additional 10 shares in their names.
Under the Unconditional Grant Track, ADF will fund applications for 20 shares for eligible beneficiaries who meet the programme’s eligibility, investor identification and Know Your Customer (KYC) requirements.
The Foundation said grant funds would be paid directly through the designated issuing house, with no cash payments made to beneficiaries, government agencies or sponsors. Any allotted shares will be credited solely to the beneficiary and held in her name.
Applicants must be Nigerian women aged 18 or older, reside in Nigeria, meet the requirements for their participation category and complete the required identity verification and KYC processes. Each beneficiary is eligible for only one ADF share grant across all Foundation share grant schemes.
ADF is implementing the initiative in partnership with Vetiva Capital Management and the Nigerian Exchange Group (NGX) through the Securities and Exchange Commission (SEC)-approved IPO subscription infrastructure.
The Foundation said it would neither receive nor hold applicants’ or sponsors’ subscription funds. All applications, payments, allotments and refunds will be processed in line with the IPO Prospectus, regulatory requirements and the approved basis of allotment.
It also stressed that participation is voluntary and that share prices may fluctuate, dividends are not guaranteed and neither share allotment nor investment returns are assured.
Applicants do not need an existing Central Securities Clearing System (CSCS) account to participate. Where necessary, accounts will be created through Vetiva after successful completion of the IPO’s KYC requirements.
Eligible independent applicants can apply exclusively through the official ADF portal, while beneficiaries of designated ADF programmes and verified service widows will receive guidance through approved Foundation channels.
ADF urged prospective participants to beware of fraud, warning them not to make payments to agents, individuals or personal bank accounts in exchange for grants or guaranteed allotments. It also advised applicants not to share passwords, PINs or one-time passwords (OTPs), and to verify unexpected payment requests or online links through official channels.
The Foundation said the initiative reflects its commitment to expanding access to investment opportunities and promoting inclusive economic empowerment for Nigerian women.
