Yobe State Governor Mai Mala Buni has approved the expenditure of ₦230.62 million to purchase shares in the Dangote Petroleum Refinery and Petrochemicals for 43,928 vulnerable women across the state’s 17 local government areas.
The move follows discussions initiated by the state government at the 81st United Nations General Assembly in New York. Secretary to the State Government Dr Mohammed Goje represented Yobe and explored private-sector partnerships to support women and conflict-affected households.
Under the proposed arrangement, the state government will fund the subscription of 10 shares for each of the 43,928 women. The Aliko Dangote Foundation is expected to provide a matching grant of the same amount, creating a combined investment valued at approximately ₦461.24 million, subject to IPO conditions and successful allotment.
Each participating woman would receive 20 shares registered in her own name and credited to her individual Central Securities Clearing System account. The scheme prioritises women from internally displaced households, widows with multiple dependants, women with disabilities and those living in extreme poverty.
Dr Goje said the initiative marked a shift from conventional financial assistance towards financial inclusion, investment participation and long-term asset ownership.
“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,” he said.
“The initiative is also 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.”
The development underlines the role of international engagement in securing practical investment opportunities for Yobe State.
