Six states in Nigeria have benefitted from the grant, which has cost it N10b so far.
The Dangote Foundation has decided to help the Federal Government achieve its poverty alleviation measures.
The foundation is the brain child of the richest man in Africa, Alhaji Aliko Dangote, at it was set up to provide humanitarian aid, amongst many other things.
Punch reports that the Dangote Foundation commenced the disbursement of N400m to 40,000 poor women in all the Local Government Areas in Lagos state, on Thursday, May 26, 2016.
According to a statement from the foundation, six states in Nigeria have benefitted from the grant, which has cost it N10b so far.
The statement also stated that the grants are its founder’s way of alleviating poverty in the country, adding that it is his own way of helping lives get better.
The women will receive N10,000 each to help with their house-hold expenses.
There were reports recently, that billionaire businessman allegedly patronised the law firm, Mossack Fonseca, which was in the news over the controversial Panama Papers.
Dangote however denied having any dealings with the Panamanian firm.
The billionaire had earlier made a commitment to assist the Federal Government in turning around and diversifying the country’s economy.