The Aliko Dangote Foundation (ADF) has launched the Women's Share Subscription Grant Initiative, a financial inclusion programme designed to enable up to two million vulnerable and low- and middle-income Nigerian women to participate in the capital market through the ongoing Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE (DPRP).
The initiative is aimed at expanding women's access to equity ownership while promoting savings, long-term investment and opportunities for wealth creation.
Under the programme, eligible beneficiaries can access one of two grant pathways.
The Matching Grant Track is available to eligible independent applicants earning N100,000 or less monthly. Applicants who subscribe to a minimum of 10 shares will receive an ADF-funded application for an additional 10 shares in their names.
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Under the Unconditional Grant Track, ADF will fund an application for 20 shares for eligible beneficiaries who meet the programme's eligibility, investor identification and Know Your Customer (KYC) requirements.
The track covers verified participants in designated ADF programmes, including CRoWN, ADFIN and Mu Shuka Iri, as well as verified service widows.
The initiative also covers eligible non-commissioned servicewomen and service spouses, subject to the applicable requirements.
ADF said grant funds will be paid directly through the designated issuing house, with no cash payments made to beneficiaries, government agencies or sponsors. Any shares allotted will be credited solely to the beneficiary and held in her name.
To qualify, applicants must be Nigerian women aged 18 or older, reside in Nigeria, meet the requirements of their relevant participation category and successfully complete the required identity verification and KYC processes. Each beneficiary is entitled to no more than one ADF share grant across the Foundation's share grant schemes.
ADF is implementing the programme 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 will not receive, collect or hold applicants' or sponsors' subscription funds. Applications, payments, allotments and refunds will be processed in line with the IPO Prospectus, applicable regulations and the approved basis of allotment.
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Participation is voluntary, and ADF cautioned prospective investors that share prices can fluctuate, dividends are payable only when declared, and neither share allotment nor investment returns are guaranteed.
Applicants do not need an existing Central Securities Clearing System (CSCS) account. Where required, an account will be created through Vetiva after successful completion of the IPO's KYC process.
Eligible independent applicants can apply exclusively through the official ADF portal, while beneficiaries of ADF programmes and verified service widows will receive guidance through approved Foundation channels.
The offer closes on October 13, 2026.
ADF has also warned applicants to be alert to fraud, stressing that payments should not be made to agents, individuals or personal bank accounts in exchange for grants or guaranteed allotments. Applicants have also been advised not to disclose passwords, PINs or one-time passwords (OTPs), and to verify unexpected payment requests or online links through official channels.
Through the initiative, the Foundation said it aims to broaden women's participation in investment and provide more Nigerian women with an opportunity to participate in long-term wealth creation.
