Aliko Dangote announces N200bn endowment for Dangote Foundation
Aliko Dangote foremost Nigerian industrialist and philanthropist has
endowed Dangote Foundation with N200 billion. Speaking in Lagos, Mr.
Dangote noted that, “Dangote foundation is now 20 years old. This initial
endowment will assure that Dangote Foundation has secure and steady
funding to carry out its mission as we significantly scale up our work.
The reconstituted board of trustees includes, Aliko Dangote, Sani Dangote,
Halima Aliko Dangote, Olakunle Alake, A B Mahmoud (SAN), Aigboje
Aig-Imoukhuede, Angela Adebayo, Hajara Adeola and Yvonne Ike. And last
year we appointed Adhiambo Odaga, Managing Director to grow the Dangote
Foundation team. The stage is set now for the next stage of our
institutional growth.”
Dangote noted that, “Dangote foundation is now 20 years old. This initial
endowment will assure that Dangote Foundation has secure and steady
funding to carry out its mission as we significantly scale up our work.
The reconstituted board of trustees includes, Aliko Dangote, Sani Dangote,
Halima Aliko Dangote, Olakunle Alake, A B Mahmoud (SAN), Aigboje
Aig-Imoukhuede, Angela Adebayo, Hajara Adeola and Yvonne Ike. And last
year we appointed Adhiambo Odaga, Managing Director to grow the Dangote
Foundation team. The stage is set now for the next stage of our
institutional growth.”
Mr. Dangote further stated that, “Going forward- from the second quarter
of this year, we will lay greater emphasis on youth and women empowerment
through large scale efforts that cultivate meaningful change in their
lives.”
of this year, we will lay greater emphasis on youth and women empowerment
through large scale efforts that cultivate meaningful change in their
lives.”
Mr. Dangote established Dangote Foundation in 1994 to extend the impact of
his growing business operations. Current interventions that focus on youth
and women, includes national cash transfer programme designed to
complement state governments’ poverty alleviation programmes by providing
N 10,000 grants to at least 1,000 women and youth in each of Nigeria’s 774
Local Government Areas, LGAs. It has already reached 256,500 women and
youth across the 157 local government areas in Kano, Jigawa, Kogi,
Adamawa, Yobe and Borno. The next phase of cash disbursement will target
select states in the South-West geopolitical zone.
his growing business operations. Current interventions that focus on youth
and women, includes national cash transfer programme designed to
complement state governments’ poverty alleviation programmes by providing
N 10,000 grants to at least 1,000 women and youth in each of Nigeria’s 774
Local Government Areas, LGAs. It has already reached 256,500 women and
youth across the 157 local government areas in Kano, Jigawa, Kogi,
Adamawa, Yobe and Borno. The next phase of cash disbursement will target
select states in the South-West geopolitical zone.
The innovative N10 Billion Dangote Foundation/Bank of Industry micro,
small and medium enterprises fund stimulates economic growth and job
creation. Dangote Foundation’s funds are offered at zero percent interest
rate while Bank of Industry’s funds are offered at ten percent interest
rate resulting in an effective interest rate of five percent which is the
lowest interest rate credit available in the country. One hundred and
thirty six (136) businesses in 27 states have accessed the fund so fa
small and medium enterprises fund stimulates economic growth and job
creation. Dangote Foundation’s funds are offered at zero percent interest
rate while Bank of Industry’s funds are offered at ten percent interest
rate resulting in an effective interest rate of five percent which is the
lowest interest rate credit available in the country. One hundred and
thirty six (136) businesses in 27 states have accessed the fund so fa
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