Nigeria Secures N3.9b Loan Facility For Women Entrepreneurs
 22nd NOV 2006

The Federal Ministry of Women Affairs has secured a N3.9 billion credit facility from the International Finance Corporation (IFC), New York, to boost entrepreneurial activities among Nigerian women.

The Women Affairs Minister, Mrs Maryam Ciroma, who disclosed this in Abeokuta on Thursday, also said that the Federal Government had equally allocated N500 million agricultural loan facility to women farmers from the N50 billion released to farmers in the country for that purpose.

``We are aware of some difficulties being faced by women farmers in the states in accessing the agricultural loans, but some arrangements are being put in place to alleviate such burden,'' she said.

The IFC facility, according to her, would be devoted to those managing small-scale businesses.

Similarly, Ciroma said that the ministry's Women Fund for Economic Empowerment (WOFEE) scheme, would receive a boost before the end of the year.

``Arrangement has been completed to cover all those states not covered by the two schemes last year,'' she said.

Also speaking at the occasion, Governor Gbenga Daniel of Ogun State said that his administration had released N40 million as micro-credit to market women this year alone.

``We equally released N10 million for the take-off of the Women Fund for Economic Empowerment (WOFEE) in the state.

``These are clear testimonies to the tremendous support and recognition that this administration accords our womenfolk,'' the governor said.

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