BY: ABDULKADIR M LAWAN, OCTOBER 13, 2026/ 11:28PM
Governor of Yobe State, Hon. Mai Mala Buni has approved the sum of N230.62 million for the procurement of Dangote Refinery shares for 43,928 vulnerable women across the 17 Local Government Areas of the State.
The approval was disclosed in a statement on Tuesday signed by the governor's spokesman, Mamman Mohammed.
According to the statement, the approval followed high-level engagements initiated by the state government, represented by the Secretary to the State Government, Dr. Mohammed Goje, at the 81st United Nations General Assembly in New York, United States of America.
Dr. Goje, on behalf of the state government, had solicited partnership with the Aliko Dangote Foundation to provide 43,928 vulnerable women across the state with an opportunity to become shareholders in the Dangote Petroleum Refinery and Petrochemicals.
The initiative is centred on a shift in women's economic empowerment from conventional financial assistance to financial inclusion, investment participation and long-term asset ownership.
Under the arrangement, the Yobe State Government will sponsor the subscription of 10 shares for each of the 43,928 eligible women, totalling N230.62 million, while the Aliko Dangote Foundation will provide an equivalent matching grant, translating to an investment opportunity valued at approximately N461.24 million, subject to applicable IPO conditions and successful allotment.
Each of the 43,928 participating women will have 20 shares in her own name, with the shares credited to her individual Central Securities Clearing System (CSCS) account, promoting personal asset ownership and financial independence.
The initiative prioritises women from internally displaced households, widows with multiple dependents, women with disabilities, and those living in extreme poverty.
The development, according to the government, highlights the growing importance of strategic international engagement in attracting practical investment opportunities to Yobe State.
'What began as a high-level conversation during UNGA 2026 has progressed into a formal partnership proposal with the potential to directly benefit tens of thousands of women across the State,' Dr. Goje said.
He added that the initiative is consistent with Governor Buni's broader development agenda of promoting inclusive growth, supporting vulnerable households, strengthening economic resilience and creating opportunities for communities recovering from the effects of insurgency.
'Beyond its financial value, this initiative reflects a significant policy direction: empowering vulnerable women not merely as recipients of assistance, but as potential owners of productive financial assets,' Dr. Goje said.