A N7.38bn (£4m, US$5.4m) co-operative support fund has been launched in the Nigerian state Akwa Ibom as part of efforts to lift women out of poverty.
State governor Umo Eno said it will be a strategic effort to strengthen women-led businesses, expand economic opportunities at community level, and drive financial inclusion.
The fund, for grassroots enterprises, will see 369 political wards receive around N20m each, spread across 31 local government areas.
At the programme launch, as reported by Leadership, Eno said the fund is open to all women in the state irrespective of political affiliation, “to assist women in their small businesses and improve their economic activities across the wards”.
Permanent Voter Cards will be used in the identification process for beneficiaries to ensure proper documentation and transparency in the disbursement of the fund.
Deputy governor Akon Eyakenyi, thanked the governor for his commitment to women’s empowerment and economic inclusion, and called on women across the state to organise themselves into co-ops in order to benefit from the fund and other government schemes.
She also encouraged women to obtain their Permanent Voter Cards and complete their National Identification Number registration so they can join government initiatives.
Alice Ekpenyong, special adviser at the Bureau of Cooperative Societies, said the initiative reflects the governor’s vision of positioning women as key drivers of economic growth in the state.
She added that the funds will be disbursed through registered co-operative societies to eliminate intermediaries and ensure transparency.
She urged women across the wards to take advantage of the programme by registering with co-ops and participating actively in their operations.
The secretary to the state government, Prince Enobong Uwa, represented by his wife, Inemesit Uwa, donated N5m to the initiative and commended the governor for prioritising women’s economic empowerment.
Another N5m was donated by Eno Idem, senior advocate of Nigeria.
