Kwara State Government has announced plans to acquire shares in the Dangote Petroleum Refinery Initial Public Offering (IPO) for outstanding female teachers in the state as part of efforts to promote financial inclusion and investment among women.
Governor AbdulRahman AbdulRazaq made the announcement on Monday in Ilorin during activities marking the 2026 World Teachers’ Day.
Under the proposed scheme, the government plans to purchase shares for female teachers in outstanding public schools. The governor also directed the state Head of Service, Dr Olufunke Mercy Shittu, to develop modalities for extending the initiative to outstanding retired female teachers.
AbdulRazaq said the state had been discussing the initiative with the Aliko Dangote Foundation, with the broader objective of encouraging women to move beyond earning income to building assets through investments and share ownership.
According to the governor, the arrangement would involve female teachers under the Teaching Service Commission (TESCOM) and the State Universal Basic Education Board (SUBEB). He said beneficiaries would receive shares purchased by the state, with additional shares expected through the foundation’s grant arrangement.
The announcement came alongside the presentation of about ₦119.5 million in awards to outstanding teachers, school administrators, academics and schools across Kwara.
Twenty-nine principals and head teachers received a combined ₦29 million, while 119 outstanding teachers shared ₦59.5 million. Eleven serving and retired university academics received ₦22 million under the Pioneer Professorship Recognition Awards, while three schools received ₦9 million for the Best Kept School Award.
The governor said his administration would continue to prioritise teachers’ welfare and working conditions, while highlighting measures including merit-based recruitment, professional development, improved school infrastructure, regular promotions and the implementation of the 27.5 per cent Teachers’ Specific Allowance.
The Chairman of the Kwara State Universal Basic Education Board, Prof Shehu Raheem Adaramaja, also announced that the 2026 promotion exercise for eligible teachers had been approved.
The Dangote share initiative is expected to form part of the state’s wider efforts to encourage financial literacy, investment and asset ownership among female educators.
