• Friday, September 29, 2023
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Ogun empowers 20,000 women entrepreneurs with N1.2bn credit facility

Ogun empowers 20,000 women entrepreneurs with N1.2bn credit facility

As part of efforts to stimulate the Nigerian economy, especially within micro, small and medium-scale enterprises (MSMEs), Ogun State has disbursed a single-digit interest rate credit facility worth N1.2 billion to 20,000 women in the last six years.
The facility is being disbursed yearly through the state’s Ministry of Women Affairs and Social Development to empower market women in the informal sector of the state.

Speaking during a meeting with World Bank team leader led by Fatima Mohammed recently at Oke-Mosan Government Secretariat in Abeokuta, Abiola Gbadamosi, permanent secretary, Ministry of Women Affairs and Social Development, disclosed that a sum of N200 million was being disbursed annually in the last six years to stimulate the economy, adding that the loan disbursement would increase in 2018 fiscal year and cover more beneficiaries.

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The permanent secretary listed other areas women have benefited to include: vocational training for school drop-outs and young mothers to make them self-reliant and employers of labour with focus on fashion designing, barbing, hair-dressing, catering, decoration and event management as well as tilling.
She said a total of 182 people were trained in 2016 while 300 trainees divided into two batches were currently undergoing training for the 2017/2018 session, adding that persons with disabilities were also being taken care of in the training and other empowerment programmes.

Speaking on behalf of World Bank, Fatima Mohammed, said that the team came to engage agencies of government, communities and groups benefitting from existing programmes on the progress and challenges recorded so as to proffer solution and strengthen future programmes.
She said findings gathered on women empowerment and skills acquisition scheme established for women folks would lead to more robust working relationship between the World Bank Group and the state government especially in the area of social development.