FG Set to Support Nigerian Women With $180m, Gives Criteria to Qualify

• The federal government has set aside $180 million to support young Nigerian women in the design and technology sectors
• The initiative supports young Nigerian entrepreneurs engaged in early-stage ventures that integrate technology, creativity, and innovation
• By 2030, the World Bank Group hopes that 300 million more women will have access to financial services, job and more opportunities

Legit.ng journalist Zainab Iwayemi has over 3-year-experience covering the Economy, Technology, and Capital Market.

To help young Nigerian women in the creative and technological industries, the federal government has allocated $180 million.

The program helps young Nigerians between the ages of 15 and 35 who are entrepreneurs and are working on early-stage projects that incorporate creativity, innovation, and technology, BusinessDay reported.

Wale Edun, the finance minister and coordinating minister of the Nigerian economy, stated during the World Bank's Annual Meetings 2024 in Washington that the government is making significant efforts to promote the status of women, who make up 49% of the population and are essential to the advancement of development.

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However, he recognised that more work must be done to improve women's lives, social justice, equality, and access to opportunities, particularly financial ones, as not enough progress is being made in these areas.

“If we empower our female population and give them the same access that we have given our men, society will be better off for it,” Edun noted, as he acknowledged the support of the World Bank so far in helping the government drive gender balance in the country.

He further said that the government has made deliberate efforts to lift Nigerian women, including a national action plan targeted at empowering them.

On Thursday, the World Bank Group announced a series of initiatives and specific goals aimed at increasing economic possibilities for more women, marking the first steps toward achieving "Gender Strategy 2030."

The goals, which were announced at a major event during the World Bank Group Annual Meetings in 2024, will center on how women may benefit from social protection, broadband use, and capital access. One of the three pillars of the Gender Strategy, which aims to increase and facilitate women's involvement in the global economy, will be supported by these initiatives.

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The World Bank Group wants 300 million additional women to have access to broadband, financial services, education, and employment possibilities by 2030. The bank intends to provide money to 80 million additional women and women-led enterprises, while also supporting 250 million women through social protection programs that prioritise the most vulnerable and impoverished.

“When we increase women’s economic participation, it not only boosts the global economy but also strengthens families and communities. Through economic empowerment, we are building a ladder out of poverty and extending hope and dignity as far as possible,” said Ajay Banga, president of the World Bank Group.

Victoria Effiong said the development is highly welcome as it will help to set beneficiarie on the right path considering that the country is already tough.

She said,

"What women need is to get the right motivation to get started and we know that money can be the biggest motivation to push people."

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FG gives instruction, begins sharing 40k rice

Legit.ng earlier reported that to lessen the nation's food crisis and its effects on Nigerians, the Federal Government has offered public servants a 50kg bag of rice for N40,000.

This was revealed in a letter from the federal ministry of special duties and Intergovernmental Affairs that BusinessDay obtained.

According to the letter, all interested employees should fill out a Google form on the OHCSF website and send it to the HR director for approval.

Source: Legit.ng