Nigerian Govt Rolls Out N1.6 Billion ‘National Women Empowerment Fund’
Friday, August 26, 2016
To facilitate growth and entrepreneurial development at grassroots level, and in line with the federal government’s Social Investment Programmes, the Minister of Women Affairs and Social Development, Senator Aisha Jummai Alhassan has announced the roll out of a N1.6 billion naira special intervention fund tagged, ‘National Women Empowerment Fund’ (NAWEF), which is in partnership with the Ministry and Bank of Industry (BOI).
Speaking at a stakeholder’s consultative meeting for the implementation of the NAWEF, organised by the ministry yesterday in Abuja, the Minister sketched the outline for the pilot phase, which will cut across 8 states; Abia, Adamawa, Akwa Ibom, Borno, Jigawa, Nassarawa, Osun and Yobe.
According to the details, to enhance income generation while providing micro-credit financing, the micro-credit scheme will be disbursed as a loan from between N20,000 to N50,000, with a 5 per cent admin fee to credible registered women groups, payable within 6 months.