FG, National MFB partner to support women entrepreneurs

The federal government has partnered with the National Microfinance Bank to support women entrepreneurs in Nigeria.

Jonathan Eze, the Special Assistant on Media and Publicity to the Minister of Women Affairs, Hajiya Imaan Suleiman-Ibrahim, disclosed this in a statement on Wednesday.

Eze added that Suleiman-Ibrahim met with the CEO of LOHI Consulting, Simpson Eimiakhena, to discuss the establishment of a dedicated National Microfinance Bank exclusively for women in Nigeria.

“This initiative aims to address the significant gap in access to finance for women, who constitute a large portion of the underserved population,” Eze said.

According to him, the minister noted that microfinance services can significantly contribute to women’s empowerment by enhancing their decision-making power and overall socio-economic status.

He said Suleiman-Ibrahim expressed her passion for advancing initiatives that promote women’s empowerment and support their families.

She also acknowledged the proposal as timely and pledged to initiate the project plan, noting its potential to transform women’s lives through improved financial inclusion and socio-economic opportunities.

“The establishment of a National Microfinance Bank for women is a critical step towards promoting gender equality and economic growth in Nigeria,” Eze said.

He stated that the minister’s commitment to this initiative demonstrates her dedication to the Renewed Hope Agenda of President Bola Tinubu on empowering women and improving their socio-economic status.