Zamfara State to Distribute Dangote Shares to Over 36,000 Residents

The Zamfara State Government has announced a plan to distribute shares in the Dangote Group to 36,176 residents. This initiative aims to promote financial inclusion and help residents gain access to investment opportunities.

According to the State Ministry of Humanitarian Affairs and Relief Matters, each beneficiary will receive about 20 shares through the Dangote Initial Public Offering. The program will be managed by the Commissioner for Humanitarian Affairs, Salisu Musa Tsafe Kainuwa, in partnership with the state ministries of Humanitarian Affairs and Finance, as well as the Zamfara Investment Company.

The beneficiaries will come from the 14 local government areas in Zamfara State. Each of the 13 local government areas will have 2,261 beneficiaries, while Gusau, the state capital, will have 4,522 beneficiaries. The program will also include individuals with disabilities to ensure everyone has a chance to participate.

This investment scheme is part of a broader agenda by Governor Dauda Lawal to enhance economic empowerment and financial independence among residents. Additional programs aimed at supporting women and young people are expected to be announced soon.

However, details about the share price, total investment, and how the shares will be distributed were not provided. The ministry’s claims regarding the number of shares and expected returns could not be independently verified at this time.