World Bank Injects $500million into Women Empowerment Project

The Minister of Women Affairs, Uju Kennedy Ohanenye, disclosed that the World Bank has approved a new loan of $500 million for the Nigeria Women Project.

She said that the project aims to directly benefit a wider range of women across the country.

The minister revealed this during a press conference in Abuja on Monday. She mentioned that the ministry had previously obtained a $100 million loan from the World Bank to support women before the current administration took over.

Uju reiterated her strong commitment to improving the lives and well-being of Nigerian women and children, stating, “I cannot be victimized. I will remain resolute and committed to ensuring the lives of women and children are better.”

She also outlined her plans for women and children, acknowledging the challenges faced by the ministry but expressing optimism due to the strong support from President Bola Ahmed Tinubu.

“There’s renewed hope for Nigerian women and children, especially with the unwavering support of President Bola Tinubu as he has pledged his commitment to facilitate the restructuring of the World Bank loan, which will significantly empower Nigerian women”, she said.

The minister clarified concerns regarding the loan’s legitimacy and restructuring.

She emphasised that President Tinubu has approved restructuring the loan to remove unnecessary expenditures such as consultancies, advocacies and ensure direct benefits like socio-economic empowerment for the target beneficiaries.

Uju responded to reports alleging that she was being victimised over the loan, stating that the claims were false.

She emphasised that she is receiving full cooperation from all parties involved.

She also encouraged women’s affinity groups and cooperatives to register on the Nigerian Women E-market portal to access funds and expand their socio-economic opportunities.