ZAMFARA GOVT TO DISTRIBUTE DANGOTE SHARES TO 36,176 RESIDENTS

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By ‘Sefiu Ajape

The Zamfara State Government says it has approved a plan to provide 36,176 residents with shares in Dangote Group as part of efforts to promote financial inclusion and economic empowerment.

According to the state Ministry of Humanitarian Affairs and Relief Matters, the initiative is designed to give residents access to investment opportunities and enable them to benefit from the country’s business sector.

Under the programme, each beneficiary is expected to receive approximately 20 shares through the Dangote Initial Public Offering, in collaboration with the state ministries of Humanitarian Affairs and Finance and the Zamfara Investment Company.

The programme will be coordinated by the Commissioner for Humanitarian Affairs, Salisu Musa Tsafe Kainuwa.

The ministry said beneficiaries would be selected from the state’s 14 local government areas, with 2,261 people allocated to each of 13 local government areas, while Gusau, the state capital, would have 4,522 beneficiaries.

It added that persons with disabilities would also benefit from the programme as part of efforts to ensure inclusiveness.

According to the ministry, Governor Dauda Lawal approved the initiative to expand residents’ access to investment opportunities and promote financial independence.

The government said the scheme forms part of its broader humanitarian and economic empowerment agenda, adding that further programmes targeting women and young people would be announced.

However, the ministry’s claims about the number of shares, expected returns and payments to the company could not be independently verified at the time of this report.

The statement did not specify the share price, the total investment involved or how the shares would be distributed to beneficiaries.