Yobe Approves ₦230.62m for Shares for 43,928 Vulnerable Women

Yobe Approves ₦230.62m for Shares for 43,928 Vulnerable Women

Yobe State Governor, Mai Mala Buni, has approved ₦230.62 million for the purchase of shares for 43,928 vulnerable women across the state’s 17 local government areas as part of efforts to strengthen economic recovery and promote financial inclusion.

The initiative followed engagements led by the state government, represented by the Secretary to the State Government, Dr. Mohammed Goje, with the Aliko Dangote Foundation during the 81st United Nations General Assembly (UNGA) in New York, United States.

During the discussions, Goje sought a partnership to enable vulnerable women and conflict-affected households in Yobe to become shareholders in Dangote Petroleum Refinery and Petrochemicals.

Under the proposed arrangement, the Yobe State Government will sponsor 10 shares for each of the 43,928 eligible women at a total cost of ₦230.62 million, while the Aliko Dangote Foundation is expected to provide an equivalent matching grant. This would bring the proposed investment to approximately ₦461.24 million, subject to applicable initial public offering conditions and successful share allotment.

Each beneficiary would receive 20 shares in her own name, with the shares credited to her individual Central Securities Clearing System (CSCS) account, enabling personal asset ownership and supporting long-term financial independence.

The initiative prioritises women from internally displaced households, widows with multiple dependants, women with disabilities and those living in extreme poverty.

Goje described the development as a practical outcome of the state’s international engagements, noting that the proposal could provide thousands of vulnerable women with access to investment opportunities rather than relying solely on conventional financial assistance.

He said the initiative aligns with Governor Buni’s development agenda of promoting inclusive growth, strengthening household 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,” Goje said.

The statement was signed by Mamman Mohammed, Director-General of Press and Media Affairs to the Governor.

Yobe Approves ₦230.62m for Shares for 43,928 Vulnerable Women