The Aliko Dangote Foundation has commenced the implementation of its share subscription grant initiative for Nigerian women, with the programme extending to eligible policewomen and military women.

The Dangote Group confirmed to The PUNCH that eligible female personnel in the police and military are among the beneficiaries covered by the initiative, which targets up to two million Nigerian women through the ongoing Initial Public Offering of Dangote Petroleum Refinery and Petrochemicals FZE.

The initiative, which was announced by the foundation recently, is aimed at increasing women’s participation in Nigeria’s capital market, particularly among low- and middle-income earners and vulnerable women.

Under the programme, eligible women can access grants to acquire shares in the Dangote refinery, promoting equity ownership, savings and long-term investment, as well as creating opportunities for wealth creation through participation in the capital market.

In a statement on Wednesday, the foundation said the beneficiaries include independent applicants earning N100,000 or less per month, verified participants in designated ADF programmes such as CRoWN, ADFIN and Mu Shuka Iri, “eligible non-commissioned servicewomen and service spouses, as well as verified service widows”.

An official of the group confirmed to The PUNCH that the “eligible non-commissioned servicewomen” category covers policewomen and military women.

The foundation said eligible independent applicants who subscribe to a minimum of 10 shares would receive an ADF-funded application for an additional 10 shares in their names under the matching grant track.

Under the unconditional grant track, the foundation will fund applications for 20 shares on behalf of eligible beneficiaries who meet the programme’s eligibility, investor identification and Know Your Customer requirements.

The foundation said the second category covered verified beneficiaries from designated ADF programmes and verified service widows.

It said grant funds would be applied directly through the designated issuing house, stressing that no cash would be paid to beneficiaries, government agencies or sponsors.

“Any shares successfully allotted will be credited solely to the beneficiary and held in her name,” the foundation stated.

To participate, applicants must be Nigerian women aged 18 years and above, reside in Nigeria, meet the eligibility requirements of their respective categories, and successfully complete the required identity verification and KYC processes.

The foundation said beneficiaries would receive no more than one ADF share grant across all its share grant schemes.

ADF is implementing the initiative in partnership with Vetiva Capital Management and the Nigerian Exchange Group through the Securities and Exchange Commission-approved IPO subscription infrastructure.

The foundation disclosed that it would neither receive nor hold applicants’ or sponsors’ subscription funds, adding that applications, payments, allotments and refunds would be handled in line with the IPO prospectus, regulatory requirements and approved basis of allotment.

It also said applicants did not need an existing Central Securities Clearing System account, as accounts would be created through Vetiva where necessary after completion of the IPO’s KYC requirements.

The foundation explained that eligible independent applicants could submit their applications exclusively through its official portal, while beneficiaries affiliated with ADF programmes and verified service widows would receive application guidance through approved Foundation channels.

As the offer closes on October 13, ADF urged prospective participants to remain vigilant against fraud, warning applicants against making payments to agents, individuals or personal bank accounts in exchange for grants or guaranteed allotment.

It also advised applicants not to share passwords, PINs or one-time passwords, and to verify unexpected payment requests or online links through official channels before taking action.

The foundation said the initiative was part of its commitment to inclusive economic empowerment and broadening access to investment opportunities for Nigerian women.

The naira was among the more resilient African currencies during the second quarter of 2026, despite a wave of exchange rate pressure caused by rising geopolitical tensions and higher energy prices, the World Bank has said.

The World Bank’s October 2026 “Africa Economic Update” found that the naira’s maximum depreciation between March and June was 2.6 per cent, significantly smaller than the losses recorded by several other African currencies.

Ghana’s cedi suffered the sharpest decline among the currencies highlighted, losing as much as 10 per cent during the period.

The currencies of South Africa, Lesotho, Namibia and Eswatini fell by up to 7.2 per cent, while the Democratic Republic of Congo and Uganda recorded maximum declines of 6 per cent and 5 per cent respectively.

The World Bank reviewed exchange rate movements in 22 African countries outside the CFA franc zone, comparing their performance with levels recorded before the escalation of the Middle East conflict.

Nigeria’s currency subsequently regained some ground. By August, the naira had improved by 1.9 per cent from its March-to-June lows, putting it among the currencies that recovered from the period of heightened pressure.

The recovery was stronger than that recorded by several regional peers. Ghana’s cedi remained 2.5 per cent below its end-February level by August, while Uganda’s currency was still down 3.1 per cent.

South Sudan recorded one of the largest remaining declines, at 5.5 per cent.

The World Bank said only 10 of the 22 currencies tracked remained weaker than their end-February positions by the end of August.

Nigeria’s position as a major crude oil exporter helped limit the pressure on the naira, according to the World Bank.

The rise in oil prices increased export earnings and foreign exchange inflows for oil-producing economies such as Nigeria and Angola, helping to offset some of the bigger pressure on their currencies.

By contrast, higher energy costs placed greater pressure on countries that depend heavily on imported fuel and other energy products.

The World Bank said the currency sell-off across several African markets was also driven by stronger demand for US dollars, capital outflows from emerging and frontier markets and concerns over the rising cost of servicing dollar-denominated debt.

The relative resilience of the naira comes as the World Bank sees stronger economic growth for Nigeria.

The bank raised its 2026 growth forecast for Nigeria to 4.3 per cent, from an estimated 4 per cent expansion in 2025.

It expects the economy to grow by 4.4 per cent in both 2027 and 2028.

The World Bank linked the improved outlook to greater macroeconomic stability, stronger investor confidence and a gradual recovery in private investment.

However, it warned that the outlook remains vulnerable to several risks.

These include tighter global financial conditions, a prolonged Middle East conflict, insecurity, climate-related shocks, disruptions to crude oil production and increased government spending ahead of the 2027 elections.

The bank said Nigeria would need to sustain its economic reforms and build stronger policy buffers to protect the gains made so far.

Source: punchng.com

FOLLOW US ON:

FACEBOOK

TWITTER

PINTEREST

TIKTOK

YOUTUBE

LINKEDIN

INSTAGRAM

Businesswoman and philanthropist, Apostle Folorunso Alakija, has urged Nigerian women to move beyond having a voice to leading the transformation of society.

Alakija, who spoke as the keynote speaker at the 10th Voice of Women Conference and Awards in Lagos on Tuesday, said women must ensure that their voices translate into solutions and engender lasting change.

Alakija said, “A voice by itself is only potential. A voice may carry an idea; your voice may carry a solution; your voice may carry a business; your voice may carry wisdom that can change a young woman’s life. But if that voice remains inside you, the impact remains trapped.”

She argued that finding one’s voice was only the beginning, adding that women needed capacity to make meaningful use of opportunities.

“God can open a door, but we must develop the capacity to walk through it and be effective once we enter,” she said.

Alakija, who recalled her journey from office administration and banking into fashion, oil and gas, philanthropy and leadership, said women must progress from capacity to influence and ultimately to impact.

“Visibility is not the same as influence. You can be seen and still be insignificant. You can be popular and still not add value. You can have a title and still not be a leader. True influence comes when your presence makes a difference,” she said.

She urged women to use their success to address social problems, mentor younger women and provide solutions to communities, stressing that Nigeria needed women who would accept responsibility for the impact of their leadership.

“Nigeria doesn’t need successful women alone. It needs women who will use their success to solve problems,” Alakija said.

She added, “The question is no longer ‘What have we achieved?’ The question is, ‘What will remain because we were here?’”

Also speaking at the event, founder of Emzor Pharmaceutical Industries, Dr Stella Okoli, said women could use their voices to build businesses and industries that would contribute to national development.

Okoli, who spoke on “Voice to Value: Building Enterprise Industrial Enterprise that Empowers and Includes Nigeria,” said her life had been a journey “from vision to enterprise, from enterprise to value, from value to nation-building.”

She said, “If there is one message I want to leave with you today, it is that a voice becomes truly powerful when it creates value.”

According to her, a voice that builds a business, employs people, creates industries, solves national problems and leaves something for the next generation becomes “a force of transformation.”

Okoli, who founded Emzor in 1985 after starting a retail pharmacy business, recalled that she obtained a N6,000 loan from FirstBank to begin local production of Emzor Paracetamol.

She urged young women not to wait until they had everything before starting their businesses.

“You do not need to begin with everything, but you need to begin with something,” she said.

“Your first office may be a room, your first employee may be one person, and your first product may only be one product. But do not allow yourself to remain there.”

The pharmacist also urged the government to support local pharmaceutical manufacturers and young entrepreneurs, saying Nigeria should develop the capacity to produce the raw materials needed for medicines.

Earlier, founder of the Voice of Women Empowerment Foundation and Executive Director of Women Radio WFM 91.7, Toun Okewale-Sonaiya, in her welcome address, said the platform had moved from providing women with a space to speak to creating opportunities for their voices to produce tangible results.

Sonaiya said, “We have learned that voice is only the beginning, and real change happens when the voice becomes influence, when ideas become action, and when our action transforms lives.”

She said women now needed more than a platform, noting that they required “opportunity, real access, resources, representation, and the power to turn their own voice into impact.”

The founder said the conference had, over the past decade, evolved from discussions around economic empowerment, finance, agriculture and technology to issues including gender-based violence, governance and inclusion.

She also called for grassroots women living with disabilities to be represented in decision-making spaces.

“Women do not need to be spoken for. Women need to be heard and be empowered to shape solutions,” she said.

Sonaiya also used the occasion to draw attention to the story of Oluwatobi Raji, a survivor of trauma, rape, drug abuse, homelessness and teenage marriage who now educates more than 150 out-of-school children in Mowo, Ogun State.

She appealed for support to enable Raji to secure a permanent facility for the children.

“I am hoping that someone in this room has the resources, the connections, and the heart to say, ‘I will help Oluwatobi Raji build a permanent school for these children,’” she said.

Former First Lady of Ekiti State, Erelu Bisi Adeleye-Fayemi, urged women to raise daughters who would dream and aspire while raising sons who would respect women and understand responsibility.

Fayemi said women should not continue to participate in systems that undermine them, declaring, “Women have suffered enough. Girls are going through too much already. Women, we should stop investing in our own oppression.”

She also urged women to demand dignity, mutual respect, confidence and responsibility in relationships and to support other women rather than undermine them.

The Deputy Governor of Ogun State, Noimot Salako-Oyedele, called on women to support and mentor one another, saying their progress should create opportunities for others.

“As we rise, lift as you rise. It is very important so that as one goes, we do not go alone,” she said.

Salako-Oyedele, who recalled her relationship with Sonaiya since she became deputy governor in 2019, said Women Radio had created a platform for women to bring their experiences and aspirations into public conversations.

She said more still needed to be done in areas including economic opportunity, healthcare, education and women’s participation in governance.

Veteran broadcaster, Bimbo Oloyede, who recalled Sonaiya’s early efforts to establish a radio platform for women, urged the organisers to take the Voice of Women Conference beyond Nigeria.

Speaking, FirstBank Chief Executive Officer, Segun Alebiosu, represented by Helen Willie, said women’s voices needed to be backed by access to finance, business knowledge, technology, markets and networks.

He noted that women-owned businesses required support at different stages of growth, including assistance with record-keeping, cash flow, pricing, governance and access to larger markets.

“Voice is not enough. For women’s voices to create sustainable impact, they must be supported with access to finance, business knowledge, technology, markets, and strong networks,” he said.

Source: punchng.com

FOLLOW US ON:

FACEBOOK

TWITTER

PINTEREST

TIKTOK

YOUTUBE

LINKEDIN

INSTAGRAM