The Aliko Dangote Foundation (ADF) has launched a Women’s Share Subscription Grant Initiative designed to enable up to two million Nigerian women to participate in the capital market through the ongoing Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE (DPRP).
The nationwide financial inclusion programme targets low- and middle-income earners and vulnerable women, with the aim of expanding access to equity ownership, encouraging savings and long-term investment, and creating new pathways for women to build wealth.
Under the initiative, eligible women can benefit through two subscription pathways: the Matching Grant Track and the Unconditional Grant Track.
Under the Matching Grant Track, eligible independent applicants earning ₦100,000 or less monthly who subscribe for a minimum of 10 shares will receive an ADF-funded application for an additional 10 shares in their names.
The Unconditional Grant Track provides eligible beneficiaries with an ADF-funded application for 20 shares, subject to meeting the programme’s eligibility, investor identification and Know Your Customer (KYC) requirements.
Beneficiaries under this category include verified participants in designated ADF programmes such as CRoWN, ADFIN and Mu Shuka Iri, as well as verified service widows.
The initiative also covers eligible non-commissioned servicewomen and service spouses.
ADF said grant funds will be applied directly through the designated issuing house, stressing that no cash payments will be made to beneficiaries, government agencies or sponsors.
Any shares allotted under the programme will be credited solely to the beneficiary and held in her name.
Who Can Apply?
Applicants must be Nigerian women aged 18 years and above and reside in Nigeria.
They must also meet the eligibility requirements applicable to their respective participation category and successfully complete all required identity verification and KYC processes.
Each beneficiary is entitled to no more than 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 will neither receive, collect nor hold applicants’ or sponsors’ subscription funds.
According to the Foundation, all applications, payments, allotments and refunds will be processed in line with the IPO Prospectus, applicable regulatory requirements and the approved basis of allotment.
Participation in the programme is voluntary. Prospective investors have also been advised that share prices may 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 to participate.
Where necessary, accounts will be created through Vetiva after applicants successfully complete the required IPO KYC process.
How to Apply
Eligible independent applicants are required to submit their applications exclusively through the official ADF portal: ipo.alikodangotefoundation.org.
Beneficiaries affiliated with ADF programmes and verified service widows will receive application guidance through approved Foundation channels.
The offer closes on October 13, 2026.
ADF has urged prospective participants to remain vigilant against fraud, warning applicants not to make payments to agents, individuals or personal bank accounts in exchange for grants or promises of guaranteed allotment.
The Foundation also advised applicants never to share passwords, PINs or one-time passwords (OTPs), and to verify any unexpected payment request or online link through official channels before taking action.
The initiative, according to ADF, is part of its broader commitment to inclusive economic empowerment and financial inclusion, while creating opportunities for more Nigerian women to participate in the country’s capital market and wealth creation journey