She also tasked women to participate actively in this year’s election by collecting their Permanent Voter Cards (PVCs) and voting for candidates of their choice.
Arowoogun spoke at the weekend during a training tagged: “Basic Costing and Financial Planning”, organised for over 50 women selected from Mile 12 market in lkosi, Lagos. The project is executed in conjunction with ActionAid Nigeria/Canada under the Women’s Voice Nigeria (WVL), to get women in markets develop better understanding of how to cost their goods and have better financial understanding.
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She lamented the dearth of funding for empowerment of women, which has triggered increased poverty and advised government to assist women in funding businesses.
Arowoogun, who is also the project coordinator for ActionAid project on Women’s Voice Nigeria said: “In last year’s budget, allocation for women’s economic empowerment dropped instead of increasing. Also, allocation for 2021 was not enough to meet the needs of women in Nigeria. Now the government is even reducing allocation for women empowerment. This is stifling women’s growth and opportunities.
“One of the things the government should do is to increase subvention for women’s economic empowerment and they should make business terrain more conducive for women. So many policy somersaults are affecting not only women but general businesses in Nigeria, government should mitigate this, “she said.
She said a major way NNEW is intervening is to look for avenue to help them get grants, build capacity to develop better structures as lack of basic structures in businesses debars women from accessing funding.
“One of the structures is that market women ought to have business accounts. They should not keep all earnings with personal money. An investor will not want to invest in a business that does not have any structure and sustainability plan.”
According to her, the project is based on the association’s passion for women economic empowerment, adding that to make women economically empowered, they must be exposed to information and knowledge.
Arowoogun said: ” We are reaching out to women in market places particularly market women in Mile 12 Orisunbare and its environment to train them through seasoned facilitators on how to run their businesses better and make more profit.
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When they make more profit, they will do better in their families and when a woman is economically empowered, the family and society benefit, they support their husband and take good care of the children.”
The facilitators, Mrs. Eniola Mayowa and Mrs. Rosamond Toluwanimi, explained that prioritising costing helps businesses to set price, reduce and Control costs as well as make better decisions about the direction of the business.
For Toluwanimi:” When starting a business, women should have enough money to avoid running out of cash before business begins to generate income, plan ahead to make profit and sufficient cash to operate.”
The lyaloja, Orisunbare, Mile 12 market, Mrs. Yeyedupe Ojo, said the training will provide women insight on how to trade, cope with inflation in the market, make more profits and avoid losses.
She also challenged the Lagos State government to reduce the interest rate on empowerment loans for traders, cut down the requirements and expand the repayment period.
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