The Aliko Dangote Foundation(ADF) has said 777,907 vulnerable women across 15 Nigerian states are on track to benefit from 15.56 million shares in Dangote Petroleum Refinery and Petrochemicals under its Women Share Subscription Grant Initiative.
In a statement issued on Sunday by Zouera Youssofou, its managing director/CEO, the foundation said the programme aims to promote financial inclusion and empower women through equity ownership in one of Africa’s largest industrial investments.
“A total of 777,907 underprivileged Nigerian women across 15 states are set to benefit from 15.56 million shares in Dangote Petroleum Refinery and Petrochemicals IPO under the Aliko Dangote Foundation’s (ADF) Women Share Subscription Grant Initiative,” the statement said.
The initiative forms part of the foundation’s broader target of empowering two million vulnerable women across Nigeria’s 36 states and the Federal Capital Territory (FCT), it stated further.
The foundation said 15 state governments have committed to participating in the programme, under which each state’s financial contribution will be matched by the foundation to provide beneficiaries with shares at no cost to the beneficiaries.
The participating states include Abia, Anambra, Borno, Ebonyi, Enugu, Gombe, Imo, Kebbi, Kwara, Lagos, Nasarawa, Niger, Plateau, Yobe and Zamfara.
Last week, PREMIUM TIMES reportedthat the Dangote Petroleum Refinery and Petrochemicals extended its ongoing $1.6 billion IPO, originally scheduled to end on 13 October, by two weeks to enable broader participation across Africa, following robust, continent-wide interest.
Since its launch, the IPO has been heralded as the biggest-ever on the continent. It is offering 4.1 billion shares at N525 per unit, with a minimum subscription of 10 shares. Its green shoe option allows an additional 30 per cent of the shares on offer to be sold if it is oversubscribed.
In July, a private placement ahead of the IPO was 270 per cent oversubscribed, even though the original plan was to raise $2.5 billion.
The IPO attracted billions of naira within minutes of opening, with a couple of trading platforms, including Bamboo and Cowrywise, experiencingdowntime on the first day on account of unprecedented subscription traffic.
Shares allocation
The foundation noted that Gombe State has emerged as the first participating state to make full payment towards the initiative, marking a milestone in its implementation.
Under the arrangement, each beneficiary is eligible to receive 20 shares at an indicative allocation price of N525 per share, giving each recipient an allocation valued at N10,500.
The state government will finance 10 shares per beneficiary, while the foundation will provide a matching contribution for the remaining 10 shares.
The initiative, according to the statement, seeks to extend the benefits of the IPO beyond institutional and high net-worth individuals to vulnerable women, many of whom may be participating in the capital market for the first time.
Rather than relying solely on conventional financial assistance, the programme intends to give beneficiaries ownership of productive assets and an opportunity to participate in long-term wealth creation.
The foundation’s target of reaching two million women across all 774 local government areas underscores its ambition to expand financial inclusion and broaden individual participation in Nigeria’s capital market.
ADF acknowledged the support of the Nigerian Exchange and the Securities and Exchange Commission in advancing the initiative’s financial inclusion objectives.
The programme runs simultaneously with the foundation’s Tertiary Students Share Subscription Grant Initiative, which is designed to support eligible students looking to participate in the IPO.
Under the students’ initiative, the foundation supports applications for 10 shares on behalf of each participating eligible student at no cost.
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Consolidated Hallmark Insurance Limited, a subsidiary of Consolidated Hallmark Holdings Plc is proud to announce that its Managing Director/Chief Executive Officer, Mrs. Mary Adeyanju, has been named Insurance Woman of the Year 2026 at the Almond Insurance Industry Awards, held tonight at The Stable.
The award recognises outstanding women whose leadership, innovation and results are reshaping Nigeria’s insurance landscape. Mrs. Adeyanju’s win reflects her bold stewardship of the company, her focus on customer-centred service, and her drive to make insurance more accessible, trusted, and relevant to everyday Nigerians.
Under her leadership, Consolidated Hallmark Insurance has strengthened its market position, embraced digital transformation, and deepened its commitment to claims excellence and stakeholder value.
Accepting the award to a standing ovation, an emotional Mrs. Adeyanju dedicated the honour to the Group Chief Executive Officer, Mr. Eddie Efekoha.
“This award belongs to a man who saw potential in me long before I saw it in myself,” she said. “For over 20 years, Mr. Efekoha has inspired me, guided me and poured so much into my career. Every step I have taken, I have taken on the foundation he built. I am deeply grateful.”
Her tribute underscores a story of mentorship, trust and the power of investing in people, values that sit at the heart of the Consolidated Hallmark culture.
The recognition is a win for the entire organisation and for women in the insurance industry, proof that purposeful leadership and sustained support can open doors for the next generation.
Consolidated Hallmark Insurance Limited remains committed to delivering value, protecting livelihoods and setting new standards of excellence in the industry.
About Us:
Consolidated Hallmark Insurance Limited is one of the leading General Business and Special Risk Insurance underwriters in Nigeria.
Over the years, the company has played a leadership role in the underwriting of key transactions in Aviation, Oil & Gas, Marine Cargo and Hull Business as well as in Motor insurance business.
We have built a reputation on Professionalism, Integrity and Excellent Service Delivery. Leveraging on the capabilities and unique skills of the entire group, we provide premium risk management solutions to our clients. Our commitment to serving you better has seen us make key investments in our People, Technology and Processes.
Baze University, Abuja, has acquired two training aircraft from Austria as it expands its investment in aviation education.
The aircraft arrived at the Nnamdi Azikiwe International Airport, Abuja, on Friday and received a traditional water cannon salute, according to reports by Nigerian media.
The university’s founding Pro-Chancellor, Datti Baba-Ahmed, disclosed the acquisition, saying it would strengthen Nigeria’s aviation training capacity and support the development of skilled professionals.
Baze University acquires two aircraft as Baba-Ahmed expands aviation investment
The Vice-Chancellor, Abiodun Adeniyi, a professor, also described the development as part of a broader entrepreneurial vision to build institutions that contribute to national development.
The acquisition represents another expansion of Baze University, which has invested in higher education and healthcare before venturing into aviation training.
In a reflection shared on Facebook on Saturday, Mr Adeniyi described the development as an example of entrepreneurship driven by vision, patience, hard work and calculated risk-taking.
He said the acquisition illustrated how businesses could grow through personal investment, borrowing, reinvestment and diversification, rather than waiting until they had accumulated all the capital needed for expansion.
“Successful entrepreneurs do not necessarily wait to become debt-free before expanding. They distinguish productive borrowing from reckless indebtedness, deploying resources into assets that create lasting economic value,” he wrote.
Mr Adeniyi said the investment went beyond private wealth creation, arguing that businesses established around education, healthcare and aviation could contribute to national development by creating jobs, building local capacity and developing human capital.
He described such investments as an expression of economic patriotism, where entrepreneurship also responds to national needs.
Expanding into aviation
The two aircraft are expected to support practical flight training at Baze Aviation School, which is being developed in Bwari, Federal Capital Territory.
The school is part of the university’s plans to combine classroom instruction with practical aviation training. Its proposed facilities include a dedicated runway, hangar, terminal building, laboratories and simulation centres.
The Coordinator of the Aviation School, Aliyu Bello, said the aircraft would enable students to gain hands-on experience alongside ground-school instruction.
Mr Baba-Ahmed said the institution planned to train at least 600 professionals in areas including air traffic control, air rescue and firefighting, subject to approval by relevant regulatory authorities.
He also disclosed plans for an aerodrome hub with a runway measuring 1,800 metres by 30 metres, with an additional 15 metres.
The National Universities Commission has approved two undergraduate programmes at the university for the 2026/2027 academic session: Aviation Management under the Faculty of Management and Social Sciences and Aerospace Engineering under the Faculty of Engineering.
Mr Adeniyi said the university would become the first private university in Africa to operate its own aviation school.
Entrepreneurship and national development
Mr Adeniyi’s remarks place the aircraft acquisition within a broader debate about the role of private investment in addressing Nigeria’s development challenges.
Nigeria’s aviation industry requires specialised human resources across several fields, including pilots, aircraft maintenance engineers, air traffic controllers and other technical professionals. Training institutions that combine academic instruction with practical facilities could help expand the pool of skilled workers available to the sector.
However, aviation training is capital-intensive and requires substantial investment in aircraft, infrastructure, maintenance, safety systems and regulatory compliance.
Mr Adeniyi said the development demonstrated the importance of sustaining a vision through years of uncertainty and making investments that could generate long-term economic value.
He traced Mr Baba-Ahmed’s expansion from Baze University, established largely with personal resources and subsequently supported by bank financing, to investments in healthcare through Baze Hospital, higher education through Baba-Ahmed University in Kano and now aviation training.
The professor argued that investments in such sectors could help reduce dependence on foreign expertise while creating opportunities for Nigerians to acquire technical skills and participate in productive enterprises.
He said the benefits of entrepreneurship should not be measured only by wealth accumulated by investors but also by the institutions created, jobs generated and national needs addressed.
“Perhaps the lesson is that great enterprises are built not simply with money, but through vision, sacrifice, perseverance and the capacity to transform ambition into productive institutions,” Mr Adeniyi wrote.
He added that when private enterprise responds to national development priorities, it takes on significance beyond commercial success.
The vice-chancellor congratulated Mr Baba-Ahmed on the acquisition, describing it as another expression of a sustained investment philosophy whose benefits could extend beyond the investor.
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