*The Zamfara State Government, in North-West Nigeria, approves a plan to provide 36,176 residents with shares in Dangote Petroleum Refinery as part of efforts at promoting financial inclusion and economic empowerment for the people
Alexander Davis | ConsumerConnect
The Zamfara State Government, in North-West Nigeria, has approved a plan to provide 36,176 residents with shares in Dangote Petroleum Refinery as part of efforts at promoting financial inclusion and economic empowerment.
The Zamfara State Ministry of Humanitarian Affairs and Relief Matters explained the share investment initiative is designed to enable residents to participate in investment opportunities and benefit from the country’s business sector.
The Zamfara Government said under the programme, each beneficiary would receive approximately 20 shares through the Dangote Initial Public Offering (IPO), in collaboration with the state ministries of Humanitarian Affairs and Finance, as well as the Zamfara Investment Company.
Analysis of beneficiaries across 14 Local Councils and State Capital
The government also disclosed Salisu Musa Tsafe Kainuwa, Commissioner for Humanitarian Affairs, would coordinate the share investment programme in the state.
The Zamfara Ministry of Humanitarian Affairs and Relief Matters further said beneficiaries would be drawn from 14 Local Government Areas (LGAs) of the North-West state, with 2,261 beneficiaries allocated to each of 13 LGAs, while Gusau, the state capital, would have 4,522 beneficiaries.
The Capital market investment programme also will accommodate persons with disabilities as part of efforts at ensuring inclusiveness, stated Zamfara Government.
The statement government affirmed Governor Dauda Lawal of Zamfara State approved the initiative, to expand residents’ access to investment opportunities, and promote financial independence of the citizens.
Government: Scheme part broader humanitarian, economic empowerment agenda
The state government as well explained the investment scheme forms part of its broader humanitarian and economic empowerment agenda, with additional programmes targeting women and young people expected to be announced.